<SEC-DOCUMENT>0000855887-23-000006.txt : 20230724
<SEC-HEADER>0000855887-23-000006.hdr.sgml : 20230724
<ACCEPTANCE-DATETIME>20230724155803
ACCESSION NUMBER:		0000855887-23-000006
CONFORMED SUBMISSION TYPE:	N-CSRS
PUBLIC DOCUMENT COUNT:		5
CONFORMED PERIOD OF REPORT:	20230531
FILED AS OF DATE:		20230724
DATE AS OF CHANGE:		20230724
EFFECTIVENESS DATE:		20230724

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			BNY MELLON STRATEGIC MUNICIPAL BOND FUND, INC.
		CENTRAL INDEX KEY:			0000855887
		IRS NUMBER:				051287040
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1130

	FILING VALUES:
		FORM TYPE:		N-CSRS
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-05877
		FILM NUMBER:		231105017

	BUSINESS ADDRESS:	
		STREET 1:		C/O BNY MELLON INVESTMENT ADVISER, INC.
		STREET 2:		240 GREENWICH STREET
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10286
		BUSINESS PHONE:		2129226400

	MAIL ADDRESS:	
		STREET 1:		C/O BNY MELLON INVESTMENT ADVISER, INC.
		STREET 2:		240 GREENWICH STREET
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10286

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DREYFUS STRATEGIC MUNICIPAL BOND FUND, INC.
		DATE OF NAME CHANGE:	20181030

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DREYFUS STRATEGIC MUNICIPAL BOND FUND INC
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
<DOCUMENT>
<TYPE>N-CSRS
<SEQUENCE>1
<FILENAME>lp1-852.htm
<DESCRIPTION>SEMI-ANNUAL REPORT
<TEXT>
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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0 0 24pt; text-align: center">UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION<BR>
Washington, D.C. 20549</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center">FORM N-CSR</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center">CERTIFIED SHAREHOLDER REPORT OF REGISTERED MANAGEMENT<BR>
INVESTMENT COMPANIES</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 12pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Investment Company Act file number</FONT></TD>
    <TD COLSPAN="4" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">811-<FONT STYLE="letter-spacing: -0.1pt">05877</FONT></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD COLSPAN="4" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt">BNY Mellon Strategic Municipal Bond Fund, Inc.</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt">(Exact name of Registrant as specified in charter)</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">c/o BNY Mellon Investment Adviser, Inc.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">240 Greenwich Street</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">New York, New York 10286</P></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt">(Address of principal executive offices)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Zip code)</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Deirdre Cunnane, Esq.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">240 Greenwich Street</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">New York, New York 10286</P></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt">(Name and address of agent for service)</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="7" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="4" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Registrant's telephone number, including area code:&nbsp;&nbsp;</FONT></TD>
    <TD COLSPAN="3" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">(212) 922-6400</FONT></TD></TR>
  <TR>
    <TD COLSPAN="5" STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR>
    <TD COLSPAN="2" STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Date of fiscal year end:</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD>
    <TD COLSPAN="3" STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">11/30</FONT></TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR>
    <TD COLSPAN="2" STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Date of reporting period:</FONT></TD>
    <TD COLSPAN="3" STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">05/31/23</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="width: 10%">&nbsp;</TD>
    <TD STYLE="width: 18%">&nbsp;</TD>
    <TD STYLE="width: 14%">&nbsp;</TD>
    <TD STYLE="width: 12%">&nbsp;</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 34%">&nbsp;</TD>
    <TD STYLE="width: 10%">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><B>FORM N-CSR</B></P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in"><B>Item 1.</B></TD><TD><B>Reports to Stockholders.</B></TD></TR></TABLE>

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<p style="font-size:24.0pt; font-family:Serif; text-align:center; color:#292526; font-weight:normal;
font-style:normal;"><font style="font-size:24.0pt; font-family:Serif; font-style:normal; color:#292526;
font-weight:normal; text-decoration:none;">BNY Mellon Strategic Municipal Bond Fund, Inc.</font></p><table
cellspacing="0" style="border-collapse:collapse" width="57%" cellpadding="2" align="center" style="clear:both"><tr
style="font-size:1pt;"><td style="width:100%;" >&nbsp;</td></tr><tr><td style="vertical-align:middle;
background-color:#CCCCCC; font-size:1pt;"><p style="font-size:16.0pt; font-family:Arial; text-align:center;
color:#000000; font-weight:bold; text-decoration:none;">SEMI-ANNUAL REPORT</p><p style="font-size:10.0pt;
font-family:Arial; text-align:center; color:#000000; font-weight:normal; font-style:normal;"><font style="font-size:16.0pt;
font-family:Arial; font-style:normal; color:#000000; font-weight:normal; text-decoration:none;">May 31,
2023</font></p></td></tr></table><table cellspacing="0" style="border-collapse:collapse" width="100%"
cellpadding="2" align="center" style="clear:both"><tr style="font-size:1pt;"><td style="width:100%;"
>&nbsp;</td></tr><tr><td style="vertical-align:top; font-size:1pt;"><p style="font-size:10.0pt; font-family:Serif;
text-align:right; font-weight:normal; font-style:normal;"><img src="img_9799838a18684.jpg" ></p></td></tr></table>
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<table cellspacing="0" style="border-collapse:collapse" width="82%" cellpadding="2" align="center" style="clear:both"><tr
style="font-size:1pt;"><td style="width:100%;" >&nbsp;</td></tr><tr><td style="vertical-align:top; border-bottom:0.5pt;
border-bottom-style:solid; border-bottom-color:#000000; border-top:0.5pt; border-top-style:solid; border-top-color:#000000;
border-left:0.5pt; border-left-style:solid; border-left-color:#000000; border-right:0.5pt; border-right-style:solid;
border-right-color:#000000; font-size:1pt;"><p style="font-size:9.5pt; font-family:Serif; font-style:normal;
text-align:center; font-weight:bold; text-decoration:none;">BNY Mellon Strategic Municipal Bond Fund,
Inc.</p><p style="font-size:9.5pt; font-family:Serif; text-align:center; font-weight:bold; font-style:normal;"><font
style="font-size:9.5pt; font-family:Serif; font-style:normal; font-weight:bold; text-decoration:none;">Protecting
Your Privacy</font><br><font style="font-size:9.5pt; font-family:Serif; font-style:normal; font-weight:bold;
text-decoration:none;">Our Pledge to You</font></p><p style="font-size:9.5pt; font-family:Bembo; text-align:justify;
font-weight:normal; margin-left:5.75pt; font-style:normal;"><font style="font-size:9.5pt; font-family:Bembo;
font-style:normal; font-weight:bold; text-decoration:none;">THE FUND IS COMMITTED TO YOUR PRIVACY.</font><font
style="font-size:9.5pt; font-family:Bembo; font-style:normal; font-weight:normal; text-decoration:none;">
On this page, you will find the fund&#8217;s policies and practices for collecting, disclosing, and safeguarding
&#8220;nonpublic personal information,&#8221; which may include financial or other customer information. These
policies apply to individuals who purchase fund shares for personal, family, or household purposes, or
have done so in the past. This notification replaces all previous statements of the fund&#8217;s consumer
privacy policy, and may be amended at any time. We&#8217;ll keep you informed of changes as required by law.</font></p><p
style="font-size:9.5pt; font-family:Bembo; text-align:justify; font-weight:normal; margin-left:5.75pt;
font-style:normal;"><font style="font-size:9.5pt; font-family:Bembo; font-style:normal; font-weight:bold;
text-decoration:none;">YOUR ACCOUNT IS PROVIDED IN A SECURE ENVIRONMENT.</font><font style="font-size:9.5pt;
font-family:Bembo; font-style:normal; font-weight:normal; text-decoration:none;"> The fund maintains
physical, electronic and procedural safeguards that comply with federal regulations to guard nonpublic
personal information. The fund&#8217;s agents and service providers have limited access to customer information
based on their role in servicing your account.</font></p><p style="font-size:9.5pt; font-family:Bembo;
text-align:justify; font-weight:normal; margin-left:5.75pt; font-style:normal;"><font style="font-size:9.5pt;
font-family:Bembo; font-style:normal; font-weight:bold; text-decoration:none;">THE FUND COLLECTS INFORMATION
IN ORDER TO SERVICE AND ADMINISTER YOUR ACCOUNT. </font><font style="font-size:9.5pt; font-family:Bembo;
font-style:normal; font-weight:normal; text-decoration:none;">The fund collects a variety of nonpublic
personal information, which may include:</font></p><p style="font-size:9.5pt; font-family:Bembo; text-align:justify;
text-indent:-13.7pt; font-weight:normal; margin-left:19.7pt; font-style:normal;"><font style="font-size:9.5pt;
font-family:Bembo; font-style:normal; font-weight:normal; text-decoration:none;">&#8226;</font><font style="word-spacing:7.85pt;">&#160;</font><font
style="font-size:9.5pt; font-family:Bembo; font-style:normal; font-weight:normal; text-decoration:none;">Information
we receive from you, such as your name, address, and social security number.</font></p><p style="font-size:9.5pt;
font-family:Bembo; text-align:justify; text-indent:-13.7pt; font-weight:normal; margin-left:19.7pt; font-style:normal;"><font
style="font-size:9.5pt; font-family:Bembo; font-style:normal; font-weight:normal; text-decoration:none;">&#8226;</font><font
style="word-spacing:7.85pt;">&#160;</font><font style="font-size:9.5pt; font-family:Bembo; font-style:normal;
font-weight:normal; text-decoration:none;">Information about your transactions with us, such as the purchase
or sale of fund shares.</font></p><p style="font-size:9.5pt; font-family:Bembo; text-align:justify; text-indent:-13.7pt;
font-weight:normal; margin-left:19.7pt; font-style:normal;"><font style="font-size:9.5pt; font-family:Bembo;
font-style:normal; font-weight:normal; text-decoration:none;">&#8226;</font><font style="word-spacing:7.85pt;">&#160;</font><font
style="font-size:9.5pt; font-family:Bembo; font-style:normal; font-weight:normal; text-decoration:none;">Information
we receive from agents and service providers, such as proxy voting information.</font></p><p style="font-size:9.5pt;
font-family:Bembo; text-align:left; font-weight:bold; margin-left:5.75pt; text-decoration:none;">THE
FUND DOES NOT SHARE NONPUBLIC PERSONAL INFORMATION WITH ANYONE, EXCEPT AS PERMITTED BY LAW.</p><p style="font-size:10.0pt;
font-family:Bembo; text-align:left; font-weight:bold; margin-left:5.75pt; font-style:normal;"><font style="font-size:9.5pt;
font-family:Bembo; font-style:italic; font-weight:bold; text-decoration:none;">Thank you for this opportunity
to serve you.</font></p></td></tr></table><table cellspacing="0" style="border-collapse:collapse" width="77%"
cellpadding="2" align="center" style="clear:both"><tr style="font-size:1pt;"><td style="width:100%;"
>&nbsp;</td></tr><tr><td style="vertical-align:top; font-size:1pt;"><p style="font-size:10.0pt; font-family:Serif;
font-style:normal; text-align:justify; font-weight:normal; text-decoration:none;">The views expressed
in this report reflect those of the portfolio manager(s) only through the end of the period covered and
do not necessarily represent the views of BNY Mellon Investment Adviser, Inc. or any other person in
the BNY Mellon Investment Adviser, Inc. organization. Any such views are subject to change at any time
based upon market or other conditions and BNY Mellon Investment Adviser, Inc. disclaims any responsibility
to update such views. These views may not be relied on as investment advice and, because investment decisions
for a fund in the BNY Mellon Family of Funds are based on numerous factors, may not be relied on as an
indication of trading intent on behalf of any fund in the BNY Mellon Family of Funds.</p></td></tr><tr><td
style="vertical-align:top; border-bottom:1pt; border-bottom-style:solid; border-bottom-color:#000000;
font-size:1pt;">&#160;</td></tr><tr><td style="vertical-align:middle; border-bottom:1pt; border-bottom-style:solid;
border-bottom-color:#000000; border-top:1pt; border-top-style:solid; border-top-color:#000000; border-left:1pt;
border-left-style:solid; border-left-color:#000000; border-right:1pt; border-right-style:solid; border-right-color:#000000;"><p
style="font-size:9.5pt; font-family:Serif; font-style:normal; text-align:center; font-weight:normal;
text-decoration:none;">Not FDIC-Insured &#8226; Not Bank-Guaranteed &#8226; May Lose Value</p></td></tr></table>
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<p style="font-size:28.0pt; font-family:Arial; text-align:justify; font-weight:normal; margin-left:108.0pt;
text-decoration:none;">Contents</p><p style="font-size:10.5pt; font-family:Serif; font-style:normal;
text-align:left; font-weight:normal; margin-left:108.0pt; text-decoration:none;">THE  FUND</p><div
style="border-bottom:1pt; border-bottom-style:solid; border-bottom-color:#000000; margin-bottom:12pt;
padding:0pt 0pt 1pt 0pt;"><div style="font-size:1.0pt; font-family:Serif; font-style:normal; text-align:left;
font-weight:normal;"></div></div><table cellspacing="0" style="border-collapse:collapse" width="100%"
cellpadding="2" style="clear:both"><tr style="font-size:1pt;"><td style="width:85.9%;" >&nbsp;</td><td
style="width:14.1%;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom; font-size:1pt;"><p style="font-size:11.0pt;
font-family:Calibri; text-align:left; font-weight:normal; margin-left:108.0pt; font-style:normal;"><a href="#1"><font
style="font-size:10.5pt; font-family:Serif; font-style:normal; font-weight:normal; text-decoration:none;">Discussion
of Fund Performance</font></a></p></td><td style="vertical-align:bottom;"><p style="font-size:11.0pt;
font-family:Calibri; text-align:right; font-weight:normal; font-style:normal;"><a href="#1"><font style="font-size:10.5pt;
font-family:Serif; font-style:normal; font-weight:normal; text-decoration:none;">2</font></a></p></td></tr><tr><td
style="vertical-align:bottom;"><p style="font-size:11.0pt; font-family:Calibri; text-align:left; font-weight:normal;
margin-left:108.0pt; font-style:normal;"><a href="#2"><font style="font-size:10.5pt; font-family:Serif;
font-style:normal; font-weight:normal; text-decoration:none;">Statement of Investments</font></a></p></td><td
style="vertical-align:bottom;"><p style="font-size:11.0pt; font-family:Calibri; text-align:right; font-weight:normal;
font-style:normal;"><a href="#2"><font style="font-size:10.5pt; font-family:Serif; font-style:normal;
font-weight:normal; text-decoration:none;">4</font></a></p></td></tr><tr><td style="vertical-align:bottom;"><p
style="font-size:11.0pt; font-family:Calibri; text-align:left; font-weight:normal; margin-left:108.0pt;
font-style:normal;"><a href="#3"><font style="font-size:10.5pt; font-family:Serif; font-style:normal;
font-weight:normal; text-decoration:none;">Statement of Assets and Liabilities</font></a></p></td><td
style="vertical-align:bottom;"><p style="font-size:11.0pt; font-family:Calibri; text-align:right; font-weight:normal;
font-style:normal;"><a href="#3"><font style="font-size:10.5pt; font-family:Serif; font-style:normal;
font-weight:normal; text-decoration:none;">23</font></a></p></td></tr><tr><td style="vertical-align:bottom;"><p
style="font-size:11.0pt; font-family:Calibri; text-align:left; font-weight:normal; margin-left:108.0pt;
font-style:normal;"><a href="#4"><font style="font-size:10.5pt; font-family:Serif; font-style:normal;
font-weight:normal; text-decoration:none;">Statement of Operations</font></a></p></td><td style="vertical-align:bottom;"><p
style="font-size:11.0pt; font-family:Calibri; text-align:right; font-weight:normal; font-style:normal;"><a href="#4"><font
style="font-size:10.5pt; font-family:Serif; font-style:normal; font-weight:normal; text-decoration:none;">24</font></a></p></td></tr><tr><td
style="vertical-align:bottom;"><p style="font-size:11.0pt; font-family:Calibri; text-align:left; font-weight:normal;
margin-left:108.0pt; font-style:normal;"><a href="#5"><font style="font-size:10.5pt; font-family:Serif;
font-style:normal; font-weight:normal; text-decoration:none;">Statement of Cash Flows</font></a></p></td><td
style="vertical-align:bottom;"><p style="font-size:11.0pt; font-family:Calibri; text-align:right; font-weight:normal;
font-style:normal;"><a href="#5"><font style="font-size:10.5pt; font-family:Serif; font-style:normal;
font-weight:normal; text-decoration:none;">25</font></a></p></td></tr><tr><td style="vertical-align:bottom;"><p
style="font-size:11.0pt; font-family:Calibri; text-align:left; font-weight:normal; margin-left:108.0pt;
font-style:normal;"><a href="#6"><font style="font-size:10.5pt; font-family:Serif; font-style:normal;
font-weight:normal; text-decoration:none;">Statement of Changes in Net Assets</font></a></p></td><td
style="vertical-align:bottom;"><p style="font-size:11.0pt; font-family:Calibri; text-align:right; font-weight:normal;
font-style:normal;"><a href="#6"><font style="font-size:10.5pt; font-family:Serif; font-style:normal;
font-weight:normal; text-decoration:none;">26</font></a></p></td></tr><tr><td style="vertical-align:bottom;"><p
style="font-size:11.0pt; font-family:Calibri; text-align:left; font-weight:normal; margin-left:108.0pt;
font-style:normal;"><a href="#7"><font style="font-size:10.5pt; font-family:Serif; font-style:normal;
font-weight:normal; text-decoration:none;">Financial Highlights</font></a></p></td><td style="vertical-align:bottom;"><p
style="font-size:11.0pt; font-family:Calibri; text-align:right; font-weight:normal; font-style:normal;"><a href="#7"><font
style="font-size:10.5pt; font-family:Serif; font-style:normal; font-weight:normal; text-decoration:none;">27</font></a></p></td></tr><tr><td
style="vertical-align:bottom;"><p style="font-size:11.0pt; font-family:Calibri; text-align:left; font-weight:normal;
margin-left:108.0pt; font-style:normal;"><a href="#8"><font style="font-size:10.5pt; font-family:Serif;
font-style:normal; font-weight:normal; text-decoration:none;">Notes to Financial Statements</font></a></p></td><td
style="vertical-align:bottom;"><p style="font-size:11.0pt; font-family:Calibri; text-align:right; font-weight:normal;
font-style:normal;"><a href="#8"><font style="font-size:10.5pt; font-family:Serif; font-style:normal;
font-weight:normal; text-decoration:none;">29</font></a></p></td></tr><tr><td style="vertical-align:bottom;"><p
style="font-size:11.0pt; font-family:Calibri; text-align:left; font-weight:normal; margin-left:108.0pt;
font-style:normal;"><a href="#9"><font style="font-size:10.5pt; font-family:Serif; font-style:normal;
font-weight:normal; text-decoration:none;">Proxy Results</font></a></p></td><td style="vertical-align:bottom;"><p
style="font-size:11.0pt; font-family:Calibri; text-align:right; font-weight:normal; font-style:normal;"><a href="#9"><font
style="font-size:10.5pt; font-family:Serif; font-style:normal; font-weight:normal; text-decoration:none;">39</font></a></p></td></tr><tr><td
style="vertical-align:bottom;"><p style="font-size:11.0pt; font-family:Calibri; text-align:left; font-weight:normal;
margin-left:108.0pt; font-style:normal;"><a href="#10"><font style="font-size:10.5pt; font-family:Serif;
font-style:normal; font-weight:normal; text-decoration:none;">Officers and Directors</font></a></p></td><td
style="vertical-align:bottom;"><p style="font-size:11.0pt; font-family:Calibri; text-align:right; font-weight:normal;
font-style:normal;"><a href="#10"><font style="font-size:10.5pt; font-family:Serif; font-style:normal;
font-weight:normal; text-decoration:none;">41</font></a></p></td></tr></table><p style="font-size:10.5pt;
font-family:Serif; font-style:normal; text-align:left; font-weight:normal; margin-left:108.0pt; text-decoration:none;">FOR  MORE  INFORMATION </p><div style="border-bottom:1pt; border-bottom-style:solid; border-bottom-color:#000000;
margin-top:12pt; margin-bottom:12pt; padding:0pt 0pt 1pt 0pt;"><div style="font-size:1.0pt; font-family:Serif;
font-style:normal; text-align:left; font-weight:normal;"><font style="word-spacing:1.0pt;">&#160;</font></div></div><p
style="font-size:10.0pt; font-family:Serif; font-style:normal; text-align:left; font-weight:normal; margin-left:108.0pt;
text-decoration:none;">Back Cover</p><table cellspacing="0" style="border-collapse:collapse" width="77%"
cellpadding="2" align="center" style="clear:both"><tr style="font-size:1pt;"><td style="width:100%;"
>&nbsp;</td></tr><tr><td style="vertical-align:top; border-bottom:2.25pt; border-bottom-style:solid;
border-bottom-color:#000000; font-size:1pt;">&#160;</td></tr><tr><td style="vertical-align:top; border-bottom:1pt;
border-bottom-style:solid; border-bottom-color:#000000; border-top:2.25pt; border-top-style:solid; border-top-color:#000000;"><p
style="font-size:10.0pt; font-family:Serif; font-style:normal; text-align:justify; font-weight:bold;
text-decoration:none;">Save time. Save paper. View your next shareholder report online as soon as it&#8217;s
available. Log into www.im.bnymellon.com and sign up for eCommunications. It&#8217;s simple and only takes
a few minutes.</p></td></tr></table>
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<p style="page-break-before:always;"></p>

<p style="font-size:10.0pt; font-family:Serif; text-align:left; font-weight:normal; font-style:normal;"><font
style="font-size:11.5pt; font-family:Arial; font-style:normal; font-weight:normal; text-decoration:none;">DISCUSSION
OF FUND PERFORMANCE</font><font style="font-size:10.0pt; font-family:Serif; font-style:normal; font-weight:normal;
text-decoration:none;"> </font><font style="font-size:9.0pt; font-family:Arial; font-style:normal; font-weight:normal;
text-decoration:none;">(Unaudited)</font></p>
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<p style="font-size:10.0pt; font-family:Serif; text-align:left; font-weight:normal; font-style:normal;"><font
style="font-size:4.0pt; font-family:Arial; font-style:normal; font-weight:normal; text-decoration:none;">
</font><a name="1"></a><font style="font-size:10.0pt; font-family:Serif; font-style:normal; font-weight:normal;
text-decoration:none;"> </font></p><p style="font-size:8.5pt; font-family:Serif; text-align:left; font-weight:normal;
text-decoration:none; font-style:italic;">For the period of December 1, 2022, through May 31, 2023, as
provided by portfolio managers, Daniel Rabasco and Jeffrey Burger of Insight North America LLC, sub-adviser.</p><p
style="font-size:8.5pt; font-family:Arial; text-align:left; font-weight:bold; text-decoration:none;">Fund
and Market Performance Overview</p><p style="font-size:8.5pt; font-family:Serif; text-align:justify;
font-weight:normal; font-style:normal;"><font style="font-size:8.5pt; font-family:Serif; font-style:normal;
font-weight:normal; text-decoration:none;">For</font><font style="font-size:8.5pt; font-family:Serif;
font-style:normal; font-weight:bold; text-decoration:none;"> </font><font style="font-size:8.5pt; font-family:Serif;
font-style:normal; font-weight:normal; text-decoration:none;">the six-month period ended May 31, 2023,
BNY Mellon Strategic Municipal Bond Fund, Inc. (the &#8220;fund&#8221;) achieved a total return of 1.82% on a
net-asset-value basis and &#8722;3.59% on a market-price basis.</font><font style="font-size:8.5pt; font-family:Serif;
font-style:normal; font-weight:normal; text-decoration:none;"><sup>1</sup></font><font style="font-size:8.5pt;
font-family:Serif; font-style:normal; font-weight:normal; text-decoration:none;"> Over the same period,
the fund provided aggregate income dividends of $.132 per share, which reflect an annualized distribution
rate of 4.73%. In comparison, the Bloomberg U.S. Municipal Bond Index (the &#8220;Index&#8221;), the fund&#8217;s
benchmark, posted a total return of 1.94% for the same period.</font><font style="font-size:8.5pt; font-family:Serif;
font-style:normal; font-weight:normal; text-decoration:none;"><sup>2</sup></font></p><p style="font-size:8.5pt;
font-family:Serif; font-style:normal; text-align:justify; font-weight:normal; text-decoration:none;">During
the reporting period, municipal bonds posted gains as inflation fears subsided, and interest-rate hikes
eased. The fund&#8217;s performance was driven primarily by its security selection. </p><p style="font-size:8.5pt;
font-family:Arial; text-align:left; font-weight:bold; text-decoration:none;">The Fund&#8217;s Investment
Approach</p><p style="font-size:8.5pt; font-family:Serif; font-style:normal; text-align:justify; font-weight:normal;
text-decoration:none;">The fund seeks to maximize current income exempt from federal income tax to the
extent believed by the sub-adviser to be consistent with the preservation of capital. In pursuing this
goal, the fund invests at least 80% of its assets in municipal bonds. Under normal market conditions,
the weighted average maturity of the fund&#8217;s portfolio is expected to exceed 10 years. Under normal
market conditions, the fund invests at least 80% of its net assets in municipal bonds considered investment
grade or the unrated equivalent as determined by the sub-adviser. </p><p style="font-size:8.5pt; font-family:Serif;
text-align:justify; font-weight:normal; font-style:normal;"><font style="font-size:8.5pt; font-family:Serif;
font-style:normal; font-weight:normal; text-decoration:none;">The fund also has issued auction-rate preferred
stock (ARPS), a percentage of which remains outstanding from its initial public offering, and has invested
the proceeds in a manner consistent with its investment objective. This, along with the fund&#8217;s participation
in secondary, inverse-floater structures, has the effect of &#8220;leveraging&#8221; the portfolio, which can
magnify gain-and-loss potential depending on market conditions.</font><font style="font-size:8.5pt; font-family:Serif;
font-style:normal; font-weight:normal; text-decoration:none;"><sup>3,4</sup></font></p><p style="font-size:8.5pt;
font-family:Serif; font-style:normal; text-align:justify; font-weight:normal; text-decoration:none;">Over
time, many of the fund&#8217;s older, higher-yielding bonds have matured or were redeemed by their issuers.
We have attempted to replace those bonds with investments consistent with the fund&#8217;s investment policies.
We have also sought to upgrade the fund with newly issued bonds that, in our opinion, have better structural
or income characteristics than existing holdings. When such opportunities arise, we usually look to sell
bonds that are close to their optional redemption date or maturity.</p><p style="font-size:8.5pt; font-family:Arial;
text-align:left; font-weight:bold; text-decoration:none;">Market Rebounds as Inflation Retreats, Rate
Hikes Ease</p><p style="font-size:8.5pt; font-family:Serif; font-style:normal; text-align:justify; font-weight:normal;
text-decoration:none;">During the reporting period, the municipal bond market experienced volatility
driven by economic uncertainty, rising inflation and geopolitical risk. While employment remained strong,
the outcome of the Federal Reserve&#8217;s (the &#8220;Fed&#8221;) tightening policy was uncertain, with investors
fearing that an economic slowdown was becoming more likely. But toward the end of the period, inflation
began to ease, and investors began to anticipate the end of the Fed&#8217;s rate hikes. </p><p style="font-size:8.5pt;
font-family:Serif; font-style:normal; text-align:justify; font-weight:normal; text-decoration:none;">Inflation
measures began to come down from multidecade highs during the first part of the reporting period. The
Fed continued increasing the federal funds rate, raising it four times between December 1, 2022 and May
31, 2023. The Fed&#8217;s increases were more moderate than previous hikes, with three of the four amounting
to just 25 basis points. By the end of the period, the federal funds target rate was 5.00%&#8211;5.25%, up
from 3.75%&#8211;4.00% at the start of the period. </p><p style="font-size:8.5pt; font-family:Serif; font-style:normal;
text-align:justify; font-weight:normal; text-decoration:none;">The economy remained relatively strong
during the reporting period, with GDP continuing to bounce back from two negative quarters in the first
half of 2022. GDP rose 2.6% in the fourth quarter of 2022 and 1.3% in the first quarter of 2023. </p><p
style="font-size:8.5pt; font-family:Serif; font-style:normal; text-align:justify; font-weight:normal;
text-decoration:none;">For much of the period, the persistence of inflation, combined with measures from
the Fed to combat it, led to significant outflows from municipal bond mutual funds. The need for fund
managers to meet redemptions only added to the downward momentum. </p><p style="font-size:8.5pt; font-family:Serif;
font-style:normal; text-align:justify; font-weight:normal; text-decoration:none;">While headwinds prevailed
over most of the period, credit fundamentals in the municipal market remained strong. In addition, turmoil
resulted in more attractive valuations in many segments of the market, creating the potential for outperformance
in the future. </p><p style="font-size:8.5pt; font-family:Serif; font-style:normal; text-align:justify;
font-weight:normal; text-decoration:none;">Late in 2022, municipal bonds began to rebound as inflation
abated; economic indicators suggested a recession was on the horizon; and investors began to anticipate
the end of the Fed&#8217;s rate-hiking cycle. A </p>
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<p style="font-size:8.5pt; font-family:Serif; font-style:normal; text-align:justify; font-weight:normal;
text-decoration:none;">perception that the stress on regional banks resulting from the banking crisis
would help slow the economy also supported the market. </p><p style="font-size:8.5pt; font-family:Serif;
font-style:normal; text-align:justify; font-weight:normal; text-decoration:none;">In May 2023, volatility
increased, in part due to technical factors, including elevated supply. In addition, uncertainty about
the Fed&#8217;s interest rate decision at its June 2023 meeting and whether it would begin to cut rates later
in the year added to volatility as well. Ongoing concerns about inflation also played a large role in
the increase in market volatility. Much of this occurred at the short end of the municipal bond yield
curve which underperformed as short-term rates rose to a greater degree than intermediate rate and produced
a greater inversion in May. As a result of the market volatility, outflows from municipal bond mutual
funds increased which hurt valuations. </p><p style="font-size:8.5pt; font-family:Arial; text-align:left;
font-weight:bold; text-decoration:none;">Security Selection Hindered Results</p><p style="font-size:8.5pt;
font-family:Serif; font-style:normal; text-align:justify; font-weight:normal; text-decoration:none;">The
fund&#8217;s performance was driven primarily by unfavorable security selection. Selection was particularly
detrimental in the airport, education, CCRC, hospital, transportation, special tax and education sectors.
Positions in Colorado Health, Pennsylvania Turnpike, University of Chicago and Children&#8217;s Healthcare
of Atlanta were especially notable. </p><p style="font-size:8.5pt; font-family:Serif; font-style:normal;
text-align:justify; font-weight:normal; text-decoration:none;">On the other hand, the fund&#8217;s performance
was helped by the relatively strong selections in certain segments. Selections in general obligation,
housing and water and sewer bonds made especially positive contributions. An overweight to tobacco bonds
was also beneficial. An emphasis on intermediate bonds benefitted returns as they outperformed shorter
and longer maturity bonds. The fund did not make use of derivatives during the period.</p><p style="font-size:8.5pt;
font-family:Arial; text-align:left; font-weight:bold; text-decoration:none;">A Sanguine Near-Term Outlook</p><p
style="font-size:8.5pt; font-family:Serif; font-style:normal; text-align:justify; font-weight:normal;
text-decoration:none;">While the Fed has paused its interest-rate hikes, the economy remains relatively
strong, and we believe more rate increases are possible. Nevertheless, we are optimistic about the short-term
outlook as fundamentals remain strong, and budget reserves remain plentiful. In addition, revenue bonds,
which are less economically sensitive, should hold up well versus general obligation bonds if the economy
weakens. We plan to maintain the fund&#8217;s leverage at current levels and to continue looking for opportunities
among the revenue bond sectors. </p><p style="font-size:8.5pt; font-family:Serif; font-style:normal;
text-align:justify; font-weight:normal; text-decoration:none;">June 15, 2023</p><p style="font-size:8.0pt;
font-family:Serif; text-align:left; text-indent:-10.8pt; font-weight:normal; margin-left:10.8pt; font-style:italic;"><font
style="font-size:8.0pt; font-family:Serif; font-style:italic; font-weight:normal; text-decoration:none;"><sup>1</sup></font><font
style="word-spacing:6.4pt;">&#160;</font><font style="font-size:8.0pt; font-family:Serif; font-style:italic;
font-weight:normal; text-decoration:none;">Total return includes reinvestment of dividends and any capital
gains paid, based upon net asset value per share. Past performance is no guarantee of future results.
Income may be subject to state and local taxes, and some income may be subject to the federal alternative
minimum tax (AMT) for certain investors. Capital gains, if any, are fully taxable. Return figures provided
reflect the absorption of certain fund expenses by The BNY Mellon Investment Adviser, Inc. pursuant to
an undertaking in effect through November 30, 2023, at which time it may be extended, terminated or modified.
Had these expenses not been absorbed, the fund&#8217;s returns would have been lower.</font></p><p style="font-size:8.0pt;
font-family:Serif; text-align:left; text-indent:-10.8pt; font-weight:normal; margin-left:10.8pt; font-style:italic;"><font
style="font-size:8.0pt; font-family:Serif; font-style:italic; font-weight:normal; text-decoration:none;"><sup>2</sup></font><font
style="word-spacing:6.4pt;">&#160;</font><font style="font-size:8.0pt; font-family:Serif; font-style:italic;
font-weight:normal; text-decoration:none;">Source: Lipper, Inc. ---The Bloomberg U.S. Municipal Bond
Index (the &#8220;Index&#8221;) covers the U.S. dollar-denominated long-term tax-exempt bond market. Unlike a
fund, the Index is not subject to fees and other expenses. Investors cannot invest directly in any index.
Distribution rate per share is based upon dividends per share paid from net investment income during
the period, annualized and divided by the market price per share at the end of the period, adjusted for
any capital gain distributions.</font></p><p style="font-size:8.0pt; font-family:Serif; text-align:left;
text-indent:-10.8pt; font-weight:normal; margin-left:10.8pt; font-style:italic;"><font style="font-size:8.0pt;
font-family:Serif; font-style:italic; font-weight:normal; text-decoration:none;"><sup>3</sup></font><font
style="word-spacing:6.4pt;">&#160;</font><font style="font-size:8.0pt; font-family:Serif; font-style:italic;
font-weight:normal; text-decoration:none;">Adjustable-rate preferred stock (ARPS) is a type of preferred
stock where the dividends issued will vary with a benchmark, most often a T-bill rate. The value of the
dividend from the preferred share is set by a predetermined formula to move with rates, and because of
this flexibility preferred prices are often more stable than fixed-rate preferred stocks.</font></p><p
style="font-size:8.0pt; font-family:Serif; text-align:left; text-indent:-10.8pt; font-weight:normal;
margin-left:10.8pt; font-style:italic;"><font style="font-size:8.0pt; font-family:Serif; font-style:italic;
font-weight:normal; text-decoration:none;"><sup>4</sup></font><font style="word-spacing:6.4pt;">&#160;</font><font
style="font-size:8.0pt; font-family:Serif; font-style:italic; font-weight:normal; text-decoration:none;">The
fund participates in secondary inverse floater structures in which fixed-rate, tax-exempt municipal bonds
are transferred to a trust (the &#8220;Inverse Floater Trust&#8221;). The Inverse Floater Trust typically issues
two variable rate securities that are collateralized by the cash flows of the fixed-rate, tax-exempt
municipal bonds.</font></p><p style="font-size:8.0pt; font-family:Serif; text-align:left; font-weight:normal;
text-decoration:none; font-style:italic;">Bonds are subject generally to interest-rate, credit, liquidity
and market risks, to varying degrees, all of which are more fully described in the fund&#8217;s prospectus.
Generally, all other factors being equal, bond prices are inversely related to interest-rate changes,
and rate increases can cause price declines. </p><p style="font-size:8.0pt; font-family:Serif; text-align:left;
font-weight:normal; text-decoration:none; font-style:italic;">High yield bonds are subject to increased
credit risk and are considered speculative in terms of the issuer&#8217;s perceived ability to continue making
interest payments on a timely basis and to repay principal upon maturity. </p><p style="font-size:8.0pt;
font-family:Serif; text-align:left; font-weight:normal; text-decoration:none; font-style:italic;">The
use of leverage may magnify the fund&#8217;s gains or losses. For derivatives with a leveraging component,
adverse changes in the value or level of the underlying asset can result in a loss that is much greater
than the original investment in the derivative.</p>
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<p style="font-size:8.0pt; font-family:Arial; text-align:center; font-weight:bold; text-decoration:none;">3</p>

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<p style="font-size:11.5pt; font-family:Arial; text-align:left; font-weight:normal; text-decoration:none;">STATEMENT
OF INVESTMENTS</p><p style="font-size:9.0pt; font-family:Arial; text-align:left; font-weight:normal;
text-decoration:none;">May 31, 2023 (Unaudited)</p>
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<p style="font-size:1.0pt; font-family:Serif; text-align:left; font-weight:normal; font-style:normal;"><font
style="font-size:4.0pt; font-family:Arial; font-style:normal; font-weight:normal; text-decoration:none;">
</font><a name="2"></a><font style="font-size:1.0pt; font-family:Serif; font-style:normal; font-weight:normal;
text-decoration:none;"> </font></p><table cellspacing="0" style="border-collapse:collapse" width="100%"
cellpadding="0" style="clear:both"><tr style="font-size:1pt;"><td style="width:35%;" >&nbsp;</td><td
style="width:6%;" >&nbsp;</td><td style="width:9%;" >&nbsp;</td><td style="width:1%;" >&nbsp;</td><td
style="width:13.01%;" >&nbsp;</td><td style="width:1%;" >&nbsp;</td><td style="width:15%;" >&nbsp;</td><td
style="width:4%;" >&nbsp;</td><td style="width:15%;" >&nbsp;</td><td style="width:1%;" >&nbsp;</td></tr><tr><td
colspan="10" style=" vertical-align:bottom; border-bottom:0.25pt; border-bottom-style:solid; border-bottom-color:#000000;
border-top:1.5pt; border-top-style:solid; border-top-color:#000000; background-color:#D9D9D9; font-size:1pt;">&#160;</td></tr><tr><td
style="vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid; border-bottom-color:#000000;
border-top:1pt; border-top-style:solid; border-top-color:#F2F2F2; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:left; color:#141414; font-weight:normal; text-decoration:none;">Description
</p></td><td colspan="2" style=" vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid;
border-bottom-color:#000000; border-top:1pt; border-top-style:solid; border-top-color:#F2F2F2; background-color:#D9D9D9;"><p
style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; font-style:normal;"><font
style="font-size:7.5pt; font-family:Cambria; font-style:normal; color:#000000; font-weight:normal; text-decoration:none;">Coupon
</font><br><font style="font-size:7.5pt; font-family:Cambria; font-style:normal; color:#000000; font-weight:normal;
text-decoration:none;">Rate (%)</font></p></td><td style="vertical-align:bottom; border-bottom:0.5pt;
border-bottom-style:solid; border-bottom-color:#000000; border-top:1pt; border-top-style:solid; border-top-color:#F2F2F2;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; border-bottom:0.5pt;
border-bottom-style:solid; border-bottom-color:#000000; border-top:1pt; border-top-style:solid; border-top-color:#F2F2F2;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">Maturity</p><p style="font-size:7.5pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;">Date</p></td><td style="vertical-align:bottom;
border-bottom:0.5pt; border-bottom-style:solid; border-bottom-color:#000000; border-top:1pt; border-top-style:solid;
border-top-color:#F2F2F2; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
border-bottom:0.5pt; border-bottom-style:solid; border-bottom-color:#000000; border-top:1pt; border-top-style:solid;
border-top-color:#F2F2F2; background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;">Principal</p><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">Amount
($)</p></td><td style="vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid; border-bottom-color:#000000;
border-top:1pt; border-top-style:solid; border-top-color:#F2F2F2; background-color:#D9D9D9; font-size:1pt;"><p
style="font-size:7.5pt; font-family:Cambria; text-align:left; color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td
style="vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid; border-bottom-color:#000000;
border-top:1pt; border-top-style:solid; border-top-color:#F2F2F2; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">Value
($)</p></td><td style="vertical-align:top; border-bottom:0.5pt; border-bottom-style:solid; border-bottom-color:#000000;
border-top:1pt; border-top-style:solid; border-top-color:#F2F2F2; background-color:#D9D9D9; font-size:1pt;"
>&nbsp;</td></tr><tr><td colspan="5" style=" vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid;
border-bottom-color:#000000; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; color:#141414; text-indent:-7.2pt; font-weight:bold; margin-left:7.2pt; text-decoration:none;">Bonds
and Notes - .3% </p></td><td style="vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid;
border-bottom-color:#000000; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
border-bottom:0.5pt; border-bottom-style:solid; border-bottom-color:#000000; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid;
border-bottom-color:#000000; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
border-bottom:0.5pt; border-bottom-style:solid; border-bottom-color:#000000; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:top; border-bottom:0.5pt; border-bottom-style:solid;
border-bottom-color:#000000; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td colspan="5"
style=" vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; color:#141414; text-indent:-7.2pt; font-weight:bold; margin-left:7.2pt; text-decoration:none;">Collateralized
Municipal-Backed Securities - .3% </p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"
>&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom; border-bottom:0.25pt;
border-bottom-style:solid; border-bottom-color:#000000; background-color:#D9D9D9;"><p style="font-size:8.0pt;
font-family:Cambria; text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal; margin-left:7.2pt;
font-style:normal;"><font style="font-size:8.0pt; font-family:Cambria; font-style:normal; color:#141414;
font-weight:normal; text-decoration:none;">Arizona Industrial Development Authority, Revenue Bonds, Ser.
2019-2</font><br><font style="font-size:8.0pt; font-family:Cambria; font-style:normal; color:#141414;
font-weight:normal; text-decoration:none;">(cost $1,335,862)</font></p></td><td style="vertical-align:bottom;
border-bottom:0.25pt; border-bottom-style:solid; border-bottom-color:#000000; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; border-bottom:0.25pt; border-bottom-style:solid;
border-bottom-color:#000000; background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;">3.63</p></td><td style="vertical-align:bottom;
border-bottom:0.25pt; border-bottom-style:solid; border-bottom-color:#000000; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; border-bottom:0.25pt; border-bottom-style:solid;
border-bottom-color:#000000; background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;">5/20/2033</p></td><td style="vertical-align:bottom;
border-bottom:0.25pt; border-bottom-style:solid; border-bottom-color:#000000; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; border-bottom:0.25pt; border-bottom-style:solid;
border-bottom-color:#000000; background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;">1,217,087</p></td><td style="vertical-align:bottom;
border-bottom:0.25pt; border-bottom-style:solid; border-bottom-color:#000000; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; border-bottom:0.25pt; border-bottom-style:solid;
border-bottom-color:#000000; background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:bold; text-decoration:none;">1,112,721</p></td><td style="vertical-align:bottom;
border-bottom:0.25pt; border-bottom-style:solid; border-bottom-color:#000000; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid;
border-bottom-color:#000000; border-top:1pt; border-top-style:solid; border-top-color:#F2F2F2; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td colspan="2" style=" vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid;
border-bottom-color:#000000; border-top:1pt; border-top-style:solid; border-top-color:#F2F2F2; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid;
border-bottom-color:#000000; border-top:1pt; border-top-style:solid; border-top-color:#F2F2F2; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid;
border-bottom-color:#000000; border-top:1pt; border-top-style:solid; border-top-color:#F2F2F2; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid;
border-bottom-color:#000000; border-top:1pt; border-top-style:solid; border-top-color:#F2F2F2; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid;
border-bottom-color:#000000; border-top:1pt; border-top-style:solid; border-top-color:#F2F2F2; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid;
border-bottom-color:#000000; border-top:1pt; border-top-style:solid; border-top-color:#F2F2F2; background-color:#D9D9D9;
font-size:1pt;"><p style="font-size:7.5pt; font-family:Cambria; text-align:left; color:#000000; font-weight:normal;
text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid;
border-bottom-color:#000000; border-top:1pt; border-top-style:solid; border-top-color:#F2F2F2; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:top; border-bottom:0.5pt; border-bottom-style:solid;
border-bottom-color:#000000; border-top:1pt; border-top-style:solid; border-top-color:#F2F2F2; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td></tr><tr><td colspan="5" style=" vertical-align:bottom; border-bottom:0.5pt;
border-bottom-style:solid; border-bottom-color:#000000; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:left; color:#141414; text-indent:-7.2pt; font-weight:bold; margin-left:7.2pt;
font-style:normal;"><font style="font-size:8.0pt; font-family:Cambria; font-style:normal; color:#141414;
font-weight:bold; text-decoration:none;">Long-Term Municipal Investments - 145.4%</font></p></td><td
style="vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid; border-bottom-color:#000000;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; border-bottom:0.5pt;
border-bottom-style:solid; border-bottom-color:#000000; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td
style="vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid; border-bottom-color:#000000;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; border-bottom:0.5pt;
border-bottom-style:solid; border-bottom-color:#000000; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td
style="vertical-align:top; border-bottom:0.5pt; border-bottom-style:solid; border-bottom-color:#000000;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td colspan="5" style=" vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414;
text-indent:-7.2pt; font-weight:bold; margin-left:7.2pt; text-decoration:none;">Alabama - 5.0% </p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"
>&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal; margin-left:7.2pt; text-decoration:none;">Alabama
Special Care Facilities Financing Authority, Revenue Bonds (Methodist Home for the Aging Obligated Group)</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">5.50</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">6/1/2030</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">1,800,000</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">1,708,789</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414;
text-indent:-7.2pt; font-weight:normal; margin-left:7.2pt; text-decoration:none;">Alabama Special Care
Facilities Financing Authority, Revenue Bonds (Methodist Home for the Aging Obligated Group)</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">6.00</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">6/1/2050</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">2,710,000</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">2,297,041</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414;
text-indent:-7.2pt; font-weight:normal; margin-left:7.2pt; text-decoration:none;">Black Belt Energy Gas
District, Revenue Bonds, Refunding, Ser. D1</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">4.00</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">6/1/2027</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">1,000,000</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria;
text-align:left; color:#000000; font-weight:normal; text-decoration:none; vertical-align:super;"><sup>a</sup><font
style="letter-spacing:-2.0pt;font-size:2.0pt;">&nbsp;</font></p></td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">996,127</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal;
margin-left:7.2pt; text-decoration:none;">Jefferson County, Revenue Bonds, Refunding, Ser. F</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">7.75</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">10/1/2046</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">6,000,000</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:7.5pt; font-family:Cambria; text-align:left; color:#000000; font-weight:normal; text-decoration:none;
vertical-align:super;"><sup>b</sup><font style="letter-spacing:-2.0pt;font-size:2.0pt;">&nbsp;</font></p></td><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;">6,214,454</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal;
margin-left:7.2pt; text-decoration:none;">The Lower Alabama Gas District, Revenue Bonds, Ser. A</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">5.00</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">9/1/2046</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">5,000,000</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">5,023,994</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td colspan="7"
style=" vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td colspan="2"
style=" vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:bold; text-decoration:none;">16,240,405</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td colspan="5" style=" vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414;
text-indent:-7.2pt; font-weight:bold; margin-left:7.2pt; text-decoration:none;">Alaska - .4% </p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"
>&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal; margin-left:7.2pt; text-decoration:none;">Northern
Tobacco Securitization Corp., Revenue Bonds, Refunding, Ser. A</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">4.00</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">6/1/2050</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">1,500,000</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:bold; text-decoration:none;">1,313,298</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td></tr><tr><td colspan="5" style=" vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414; text-indent:-7.2pt; font-weight:bold;
margin-left:7.2pt; text-decoration:none;">Arizona - 6.1% </p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"
>&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal;
margin-left:7.2pt; text-decoration:none;">Arizona Industrial Development Authority, Revenue Bonds (Equitable
School Revolving Fund Obligated Group) Ser. A</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">4.00</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">11/1/2045</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">1,500,000</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">1,344,202</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal;
margin-left:7.2pt; text-decoration:none;">Arizona Industrial Development Authority, Revenue Bonds (Legacy
Cares Project) Ser. A</p></td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"
>&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;">7.75</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">7/1/2050</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">4,305,000</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:7.5pt; font-family:Cambria; text-align:left; color:#000000; font-weight:normal; text-decoration:none;
vertical-align:super;"><sup>c,d</sup><font style="letter-spacing:-2.0pt;font-size:2.0pt;">&nbsp;</font></p></td><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;">2,367,750</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal;
margin-left:7.2pt; text-decoration:none;">Arizona Industrial Development Authority, Revenue Bonds, Refunding
(BASIS Schools Projects) Ser. A</p></td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"
>&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;">5.25</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">7/1/2047</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">2,000,000</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:7.5pt; font-family:Cambria; text-align:left; color:#000000; font-weight:normal; text-decoration:none;
vertical-align:super;"><sup>c</sup><font style="letter-spacing:-2.0pt;font-size:2.0pt;">&nbsp;</font></p></td><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;">1,882,799</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal;
margin-left:7.2pt; text-decoration:none;">Glendale Industrial Development Authority, Revenue Bonds, Refunding
(Sun Health Services Obligated Group) Ser. A</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">5.00</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">11/15/2054</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">1,500,000</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">1,386,484</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td></tr></table>
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<p style="font-size:8.0pt; font-family:Arial; text-align:center; font-weight:bold; text-decoration:none;">4</p>

<!-- Field: Rule-Page --><div style="margin: 3pt auto; width: 25%"><div style="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</div></div><!-- Field: /Rule-Page -->
<p style="page-break-before:always;"></p>


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<table cellspacing="0" style="border-collapse:collapse" width="100%" cellpadding="0" style="clear:both"><tr
style="font-size:1pt;"><td style="width:35%;" >&nbsp;</td><td style="width:6%;" >&nbsp;</td><td style="width:9%;"
>&nbsp;</td><td style="width:1%;" >&nbsp;</td><td style="width:13.01%;" >&nbsp;</td><td style="width:1%;"
>&nbsp;</td><td style="width:15%;" >&nbsp;</td><td style="width:4%;" >&nbsp;</td><td style="width:15%;"
>&nbsp;</td><td style="width:1%;" >&nbsp;</td></tr><tr><td colspan="10" style=" vertical-align:bottom;
border-bottom:0.25pt; border-bottom-style:solid; border-bottom-color:#000000; border-top:1.5pt; border-top-style:solid;
border-top-color:#000000; background-color:#D9D9D9; font-size:1pt;">&#160;</td></tr><tr><td style="vertical-align:bottom;
border-bottom:0.5pt; border-bottom-style:solid; border-bottom-color:#000000; border-top:1pt; border-top-style:solid;
border-top-color:#F2F2F2; background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria;
text-align:left; color:#141414; font-weight:normal; text-decoration:none;">Description</p></td><td colspan="2"
style=" vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid; border-bottom-color:#000000;
border-top:1pt; border-top-style:solid; border-top-color:#F2F2F2; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; font-style:normal;"><font style="font-size:7.5pt;
font-family:Cambria; font-style:normal; color:#000000; font-weight:normal; text-decoration:none;"> Coupon
</font><br><font style="font-size:7.5pt; font-family:Cambria; font-style:normal; color:#000000; font-weight:normal;
text-decoration:none;">Rate (%)</font></p></td><td style="vertical-align:bottom; border-bottom:0.5pt;
border-bottom-style:solid; border-bottom-color:#000000; border-top:1pt; border-top-style:solid; border-top-color:#F2F2F2;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; border-bottom:0.5pt;
border-bottom-style:solid; border-bottom-color:#000000; border-top:1pt; border-top-style:solid; border-top-color:#F2F2F2;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; font-style:normal;"><font style="font-size:8.0pt; font-family:Cambria; font-style:normal;
color:#000000; font-weight:normal; text-decoration:none;">&#160;</font><font style="font-size:7.5pt; font-family:Cambria;
font-style:normal; color:#000000; font-weight:normal; text-decoration:none;">Maturity Date</font></p></td><td
style="vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid; border-bottom-color:#000000;
border-top:1pt; border-top-style:solid; border-top-color:#F2F2F2; background-color:#D9D9D9; font-size:1pt;"
>&nbsp;</td><td style="vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid; border-bottom-color:#000000;
border-top:1pt; border-top-style:solid; border-top-color:#F2F2F2; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">Principal
Amount ($)</p></td><td style="vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid;
border-bottom-color:#000000; border-top:1pt; border-top-style:solid; border-top-color:#F2F2F2; background-color:#D9D9D9;
font-size:1pt;"><p style="font-size:7.5pt; font-family:Cambria; text-align:left; color:#000000; font-weight:normal;
text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid;
border-bottom-color:#000000; border-top:1pt; border-top-style:solid; border-top-color:#F2F2F2; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; font-style:normal;"><font
style="font-size:7.5pt; font-family:Cambria; font-style:normal; color:#000000; font-weight:normal; text-decoration:none;">Value
($)</font></p></td><td style="vertical-align:top; border-bottom:0.5pt; border-bottom-style:solid; border-bottom-color:#000000;
border-top:1pt; border-top-style:solid; border-top-color:#F2F2F2; background-color:#D9D9D9; font-size:1pt;"
>&nbsp;</td></tr><tr><td colspan="5" style=" vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid;
border-bottom-color:#000000; background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria;
text-align:left; color:#141414; text-indent:-7.2pt; font-weight:bold; margin-left:7.2pt; font-style:normal;"><font
style="font-size:8.0pt; font-family:Cambria; font-style:normal; color:#141414; font-weight:bold; text-decoration:none;">Long-Term
Municipal Investments - 145.4%</font><font style="font-size:8.0pt; font-family:Cambria; font-style:normal;
color:#141414; font-weight:normal; text-decoration:none;">&#160;</font><font style="font-size:8.0pt; font-family:Cambria;
font-style:normal; color:#141414; font-weight:bold; text-decoration:none;">(continued)</font></p></td><td
style="vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid; border-bottom-color:#000000;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; border-bottom:0.5pt;
border-bottom-style:solid; border-bottom-color:#000000; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td
style="vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid; border-bottom-color:#000000;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; border-bottom:0.5pt;
border-bottom-style:solid; border-bottom-color:#000000; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td
style="vertical-align:top; border-bottom:0.5pt; border-bottom-style:solid; border-bottom-color:#000000;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td colspan="5" style=" vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414;
text-indent:-7.2pt; font-weight:bold; margin-left:7.2pt; text-decoration:none;">Arizona - 6.1% (continued)</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"
>&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal; margin-left:7.2pt; text-decoration:none;">La
Paz County Industrial Development Authority, Revenue Bonds (Harmony Public Schools) Ser. A</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">5.00</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">2/15/2048</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">1,550,000</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">1,490,206</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414;
text-indent:-7.2pt; font-weight:normal; margin-left:7.2pt; text-decoration:none;">Maricopa County Industrial
Development Authority, Revenue Bonds, Refunding (Legacy Traditional Schools Project)</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">5.00</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">7/1/2049</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">1,775,000</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria;
text-align:left; color:#000000; font-weight:normal; text-decoration:none; vertical-align:super;"><sup>c</sup><font
style="letter-spacing:-2.0pt;font-size:2.0pt;">&nbsp;</font></p></td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">1,567,867</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal;
margin-left:7.2pt; text-decoration:none;">Salt Verde Financial Corp., Revenue Bonds</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">5.00</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">12/1/2037</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">1,345,000</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">1,367,720</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal;
margin-left:7.2pt; text-decoration:none;">Tender Option Bond Trust Receipts (Series 2018-XF2537), (Salt
Verde Financial Corporation, Revenue Bonds) Recourse, Underlying Coupon Rate (%) 5.00</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">5.64</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">12/1/2037</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">4,550,000</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria;
text-align:left; color:#000000; font-weight:normal; text-decoration:none; vertical-align:super;"><sup>c,e,f</sup><font
style="letter-spacing:-2.0pt;font-size:2.0pt;">&nbsp;</font></p></td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">4,626,850</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal;
margin-left:7.2pt; text-decoration:none;">The Phoenix Arizona Industrial Development Authority, Revenue
Bonds (Legacy Traditional Schools Project) Ser. A</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">6.75</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">7/1/2044</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">1,000,000</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria;
text-align:left; color:#000000; font-weight:normal; text-decoration:none; vertical-align:super;"><sup>c</sup><font
style="letter-spacing:-2.0pt;font-size:2.0pt;">&nbsp;</font></p></td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">1,011,312</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal;
margin-left:7.2pt; text-decoration:none;">The Phoenix Arizona Industrial Development Authority, Revenue
Bonds, Refunding (BASIS Schools Projects) Ser. A</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">5.00</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">7/1/2046</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">3,000,000</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria;
text-align:left; color:#000000; font-weight:normal; text-decoration:none; vertical-align:super;"><sup>c</sup><font
style="letter-spacing:-2.0pt;font-size:2.0pt;">&nbsp;</font></p></td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">2,742,898</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td></tr><tr><td colspan="7" style=" vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td colspan="2" style=" vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000; font-weight:bold; text-decoration:none;">19,788,088</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td colspan="5"
style=" vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; color:#141414; text-indent:-7.2pt; font-weight:bold; margin-left:7.2pt; text-decoration:none;">Arkansas
- .6% </p></td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"
>&nbsp;</td></tr><tr><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt;
font-family:Cambria; text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal; margin-left:7.2pt;
text-decoration:none;">Arkansas Development Finance Authority, Revenue Bonds (Green Bond) (U.S. Steel
Corp.)</p></td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;">5.70</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">5/1/2053</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">1,900,000</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:bold; text-decoration:none;">1,909,497</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td colspan="5"
style=" vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; color:#141414; text-indent:-7.2pt; font-weight:bold; margin-left:7.2pt; text-decoration:none;">California
- 7.2% </p></td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"
>&nbsp;</td></tr><tr><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt;
font-family:Cambria; text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal; margin-left:7.2pt;
text-decoration:none;">California Community Choice Financing Authority, Revenue Bonds (Green Bond) (Clean
Energy Project)</p></td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;">5.25</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">10/1/2031</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">1,500,000</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:7.5pt; font-family:Cambria; text-align:left; color:#000000; font-weight:normal; text-decoration:none;
vertical-align:super;"><sup>a</sup><font style="letter-spacing:-2.0pt;font-size:2.0pt;">&nbsp;</font></p></td><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;">1,568,949</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal;
margin-left:7.2pt; text-decoration:none;">California Municipal Finance Authority, Revenue Bonds (United
Airlines Project)</p></td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"
>&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;">4.00</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">7/15/2029</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">1,000,000</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">974,600</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414;
text-indent:-7.2pt; font-weight:normal; margin-left:7.2pt; text-decoration:none;">California Municipal
Finance Authority, Revenue Bonds, Ser. A</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">4.00</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">2/1/2051</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">1,500,000</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">1,302,284</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal;
margin-left:7.2pt; text-decoration:none;">Golden State Tobacco Securitization Corp., Revenue Bonds, Refunding,
Ser. B</p></td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;">5.00</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">6/1/2051</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">1,000,000</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">1,042,126</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414;
text-indent:-7.2pt; font-weight:normal; margin-left:7.2pt; text-decoration:none;">Jefferson Union High
School District, COP (Teacher &amp; Staff Housing Project) (Insured; Build America Mutual)</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">4.00</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">8/1/2055</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">1,500,000</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">1,425,366</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414;
text-indent:-7.2pt; font-weight:normal; margin-left:7.2pt; text-decoration:none;">San Diego County Regional
Airport Authority, Revenue Bonds, Ser. B</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">5.00</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">7/1/2051</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">5,250,000</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">5,417,999</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td></tr></table>
<!-- PAGEBREAK_START -->
<p style="font-size:8.0pt; font-family:Arial; text-align:center; font-weight:bold; text-decoration:none;">5</p>

<!-- Field: Rule-Page --><div style="margin: 3pt auto; width: 25%"><div style="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</div></div><!-- Field: /Rule-Page -->
<p style="page-break-before:always;"></p>

<p style="font-size:9.0pt; font-family:Arial; text-align:left; font-weight:normal; font-style:normal;"><font
style="font-size:9.0pt; font-family:Arial; font-style:italic; font-weight:normal; text-decoration:none;">STATEMENT
OF INVESTMENTS (Unaudited) (continued)</font></p>
<!-- PAGEBREAK_END -->
<table cellspacing="0" style="border-collapse:collapse" width="100%" cellpadding="0" style="clear:both"><tr
style="font-size:1pt;"><td style="width:35%;" >&nbsp;</td><td style="width:6%;" >&nbsp;</td><td style="width:9%;"
>&nbsp;</td><td style="width:1%;" >&nbsp;</td><td style="width:13.01%;" >&nbsp;</td><td style="width:1%;"
>&nbsp;</td><td style="width:15%;" >&nbsp;</td><td style="width:4%;" >&nbsp;</td><td style="width:15%;"
>&nbsp;</td><td style="width:1%;" >&nbsp;</td></tr><tr><td colspan="10" style=" vertical-align:bottom;
border-bottom:0.25pt; border-bottom-style:solid; border-bottom-color:#000000; border-top:1.5pt; border-top-style:solid;
border-top-color:#000000; background-color:#D9D9D9; font-size:1pt;">&#160;</td></tr><tr><td style="vertical-align:bottom;
border-bottom:0.5pt; border-bottom-style:solid; border-bottom-color:#000000; border-top:1pt; border-top-style:solid;
border-top-color:#F2F2F2; background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria;
text-align:left; color:#141414; font-weight:normal; text-decoration:none;">Description</p></td><td colspan="2"
style=" vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid; border-bottom-color:#000000;
border-top:1pt; border-top-style:solid; border-top-color:#F2F2F2; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; font-style:normal;"><font style="font-size:7.5pt;
font-family:Cambria; font-style:normal; color:#000000; font-weight:normal; text-decoration:none;"> Coupon
</font><br><font style="font-size:7.5pt; font-family:Cambria; font-style:normal; color:#000000; font-weight:normal;
text-decoration:none;">Rate (%)</font></p></td><td style="vertical-align:bottom; border-bottom:0.5pt;
border-bottom-style:solid; border-bottom-color:#000000; border-top:1pt; border-top-style:solid; border-top-color:#F2F2F2;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; border-bottom:0.5pt;
border-bottom-style:solid; border-bottom-color:#000000; border-top:1pt; border-top-style:solid; border-top-color:#F2F2F2;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; font-style:normal;"><font style="font-size:8.0pt; font-family:Cambria; font-style:normal;
color:#000000; font-weight:normal; text-decoration:none;">&#160;</font><font style="font-size:7.5pt; font-family:Cambria;
font-style:normal; color:#000000; font-weight:normal; text-decoration:none;">Maturity Date</font></p></td><td
style="vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid; border-bottom-color:#000000;
border-top:1pt; border-top-style:solid; border-top-color:#F2F2F2; background-color:#D9D9D9; font-size:1pt;"
>&nbsp;</td><td style="vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid; border-bottom-color:#000000;
border-top:1pt; border-top-style:solid; border-top-color:#F2F2F2; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">Principal
Amount ($)</p></td><td style="vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid;
border-bottom-color:#000000; border-top:1pt; border-top-style:solid; border-top-color:#F2F2F2; background-color:#D9D9D9;
font-size:1pt;"><p style="font-size:7.5pt; font-family:Cambria; text-align:left; color:#000000; font-weight:normal;
text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid;
border-bottom-color:#000000; border-top:1pt; border-top-style:solid; border-top-color:#F2F2F2; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; font-style:normal;"><font
style="font-size:7.5pt; font-family:Cambria; font-style:normal; color:#000000; font-weight:normal; text-decoration:none;">Value
($)</font></p></td><td style="vertical-align:top; border-bottom:0.5pt; border-bottom-style:solid; border-bottom-color:#000000;
border-top:1pt; border-top-style:solid; border-top-color:#F2F2F2; background-color:#D9D9D9; font-size:1pt;"
>&nbsp;</td></tr><tr><td colspan="5" style=" vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid;
border-bottom-color:#000000; background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria;
text-align:left; color:#141414; text-indent:-7.2pt; font-weight:bold; margin-left:7.2pt; font-style:normal;"><font
style="font-size:8.0pt; font-family:Cambria; font-style:normal; color:#141414; font-weight:bold; text-decoration:none;">Long-Term
Municipal Investments - 145.4%</font><font style="font-size:8.0pt; font-family:Cambria; font-style:normal;
color:#141414; font-weight:normal; text-decoration:none;">&#160;</font><font style="font-size:8.0pt; font-family:Cambria;
font-style:normal; color:#141414; font-weight:bold; text-decoration:none;">(continued)</font></p></td><td
style="vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid; border-bottom-color:#000000;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; border-bottom:0.5pt;
border-bottom-style:solid; border-bottom-color:#000000; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td
style="vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid; border-bottom-color:#000000;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; border-bottom:0.5pt;
border-bottom-style:solid; border-bottom-color:#000000; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td
style="vertical-align:top; border-bottom:0.5pt; border-bottom-style:solid; border-bottom-color:#000000;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td colspan="5" style=" vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414;
text-indent:-7.2pt; font-weight:bold; margin-left:7.2pt; text-decoration:none;">California - 7.2% (continued)</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"
>&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal; margin-left:7.2pt; text-decoration:none;">Tender
Option Bond Trust Receipts (Series 2022-XF3024), (San Francisco City &amp; County, Revenue Bonds, Refunding,
Ser. A) Recourse, Underlying Coupon Rate (%) 5.00</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">6.30</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">5/1/2044</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">5,280,000</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria;
text-align:left; color:#000000; font-weight:normal; text-decoration:none; vertical-align:super;"><sup>c,e,f</sup><font
style="letter-spacing:-2.0pt;font-size:2.0pt;">&nbsp;</font></p></td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">5,461,940</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal;
margin-left:7.2pt; text-decoration:none;">Tender Option Bond Trust Receipts (Series 2023-XM1114), (Long
Beach Finance Authority, Revenue Bonds) Non-recourse, Underlying Coupon Rate (%) 4.00</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">2.55</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">8/1/2053</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">6,400,000</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria;
text-align:left; color:#000000; font-weight:normal; text-decoration:none; vertical-align:super;"><sup>c,e,f</sup><font
style="letter-spacing:-2.0pt;font-size:2.0pt;">&nbsp;</font></p></td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">6,133,220</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td></tr><tr><td colspan="7" style=" vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td colspan="2" style=" vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000; font-weight:bold; text-decoration:none;">23,326,484</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td colspan="5"
style=" vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; color:#141414; text-indent:-7.2pt; font-weight:bold; margin-left:7.2pt; text-decoration:none;">Colorado
- 3.6% </p></td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"
>&nbsp;</td></tr><tr><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt;
font-family:Cambria; text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal; margin-left:7.2pt;
text-decoration:none;">Colorado Health Facilities Authority, Revenue Bonds (CommonSpirit Health Obligated
Group)</p></td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;">5.25</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">11/1/2052</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">1,000,000</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">1,040,174</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414;
text-indent:-7.2pt; font-weight:normal; margin-left:7.2pt; text-decoration:none;">Colorado Health Facilities
Authority, Revenue Bonds, Refunding (Covenant Living Communities &amp; Services Obligated Group) Ser.
A</p></td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;">4.00</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">12/1/2050</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">4,000,000</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">3,189,837</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414;
text-indent:-7.2pt; font-weight:normal; margin-left:7.2pt; text-decoration:none;">Colorado High Performance
Transportation Enterprise, Revenue Bonds</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">5.00</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">12/31/2056</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">1,000,000</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">986,941</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal;
margin-left:7.2pt; text-decoration:none;">Dominion Water &amp; Sanitation District, Revenue Bonds, Refunding</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">5.88</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">12/1/2052</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">2,750,000</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">2,675,694</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414;
text-indent:-7.2pt; font-weight:normal; margin-left:7.2pt; text-decoration:none;">Tender Option Bond
Trust Receipts (Series 2020-XM0829), (Colorado Health Facilities Authority, Revenue Bonds, Refunding
(CommonSpirit Health Obligated Group, Ser. A1)) Recourse, Underlying Coupon Rate (%) 4.00</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">5.23</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">8/1/2044</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">3,260,000</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:7.5pt; font-family:Cambria; text-align:left; color:#000000; font-weight:normal; text-decoration:none;
vertical-align:super;"><sup>c,e,f</sup><font style="letter-spacing:-2.0pt;font-size:2.0pt;">&nbsp;</font></p></td><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;">3,634,077</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td colspan="7" style=" vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td colspan="2" style=" vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:bold; text-decoration:none;">11,526,723</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td></tr><tr><td colspan="5" style=" vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414; text-indent:-7.2pt; font-weight:bold;
margin-left:7.2pt; text-decoration:none;">Connecticut - .5% </p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"
>&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414;
text-indent:-7.2pt; font-weight:normal; margin-left:7.2pt; text-decoration:none;">Connecticut, Revenue
Bonds, Ser. A</p></td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;">5.00</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">5/1/2038</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">1,000,000</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">1,095,931</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414;
text-indent:-7.2pt; font-weight:normal; margin-left:7.2pt; text-decoration:none;">Connecticut Housing
Finance Authority, Revenue Bonds, Refunding, Ser. A1</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">3.65</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">11/15/2032</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">530,000</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">525,946</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td></tr><tr><td colspan="7" style=" vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td colspan="2" style=" vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000; font-weight:bold; text-decoration:none;">1,621,877</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td colspan="5"
style=" vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; color:#141414; text-indent:-7.2pt; font-weight:bold; margin-left:7.2pt; text-decoration:none;">District
of Columbia - .3% </p></td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"
>&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal;
margin-left:7.2pt; text-decoration:none;">Metropolitan Washington Airports Authority, Revenue Bonds,
Refunding (Dulles Metrorail) Ser. B</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">4.00</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">10/1/2049</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">1,000,000</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:bold; text-decoration:none;">916,091</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td></tr><tr><td colspan="5" style=" vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414; text-indent:-7.2pt; font-weight:bold;
margin-left:7.2pt; text-decoration:none;">Florida - 7.6% </p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"
>&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal;
margin-left:7.2pt; text-decoration:none;">Atlantic Beach, Revenue Bonds (Fleet Landing Project) Ser.
A</p></td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;">5.00</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">11/15/2053</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">2,500,000</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">2,067,882</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr></table>
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<p style="font-size:8.0pt; font-family:Arial; text-align:center; font-weight:bold; text-decoration:none;">6</p>

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<p style="page-break-before:always;"></p>


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<table cellspacing="0" style="border-collapse:collapse" width="100%" cellpadding="0" style="clear:both"><tr
style="font-size:1pt;"><td style="width:35%;" >&nbsp;</td><td style="width:6%;" >&nbsp;</td><td style="width:9%;"
>&nbsp;</td><td style="width:1%;" >&nbsp;</td><td style="width:13.01%;" >&nbsp;</td><td style="width:1%;"
>&nbsp;</td><td style="width:15%;" >&nbsp;</td><td style="width:4%;" >&nbsp;</td><td style="width:15%;"
>&nbsp;</td><td style="width:1%;" >&nbsp;</td></tr><tr><td colspan="10" style=" vertical-align:bottom;
border-bottom:0.25pt; border-bottom-style:solid; border-bottom-color:#000000; border-top:1.5pt; border-top-style:solid;
border-top-color:#000000; background-color:#D9D9D9; font-size:1pt;">&#160;</td></tr><tr><td style="vertical-align:bottom;
border-bottom:0.5pt; border-bottom-style:solid; border-bottom-color:#000000; border-top:1pt; border-top-style:solid;
border-top-color:#F2F2F2; background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria;
text-align:left; color:#141414; font-weight:normal; text-decoration:none;">Description</p></td><td colspan="2"
style=" vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid; border-bottom-color:#000000;
border-top:1pt; border-top-style:solid; border-top-color:#F2F2F2; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; font-style:normal;"><font style="font-size:7.5pt;
font-family:Cambria; font-style:normal; color:#000000; font-weight:normal; text-decoration:none;"> Coupon
</font><br><font style="font-size:7.5pt; font-family:Cambria; font-style:normal; color:#000000; font-weight:normal;
text-decoration:none;">Rate (%)</font></p></td><td style="vertical-align:bottom; border-bottom:0.5pt;
border-bottom-style:solid; border-bottom-color:#000000; border-top:1pt; border-top-style:solid; border-top-color:#F2F2F2;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; border-bottom:0.5pt;
border-bottom-style:solid; border-bottom-color:#000000; border-top:1pt; border-top-style:solid; border-top-color:#F2F2F2;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; font-style:normal;"><font style="font-size:8.0pt; font-family:Cambria; font-style:normal;
color:#000000; font-weight:normal; text-decoration:none;">&#160;</font><font style="font-size:7.5pt; font-family:Cambria;
font-style:normal; color:#000000; font-weight:normal; text-decoration:none;">Maturity Date</font></p></td><td
style="vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid; border-bottom-color:#000000;
border-top:1pt; border-top-style:solid; border-top-color:#F2F2F2; background-color:#D9D9D9; font-size:1pt;"
>&nbsp;</td><td style="vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid; border-bottom-color:#000000;
border-top:1pt; border-top-style:solid; border-top-color:#F2F2F2; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">Principal
Amount ($)</p></td><td style="vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid;
border-bottom-color:#000000; border-top:1pt; border-top-style:solid; border-top-color:#F2F2F2; background-color:#D9D9D9;
font-size:1pt;"><p style="font-size:7.5pt; font-family:Cambria; text-align:left; color:#000000; font-weight:normal;
text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid;
border-bottom-color:#000000; border-top:1pt; border-top-style:solid; border-top-color:#F2F2F2; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; font-style:normal;"><font
style="font-size:7.5pt; font-family:Cambria; font-style:normal; color:#000000; font-weight:normal; text-decoration:none;">Value
($)</font></p></td><td style="vertical-align:top; border-bottom:0.5pt; border-bottom-style:solid; border-bottom-color:#000000;
border-top:1pt; border-top-style:solid; border-top-color:#F2F2F2; background-color:#D9D9D9; font-size:1pt;"
>&nbsp;</td></tr><tr><td colspan="5" style=" vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid;
border-bottom-color:#000000; background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria;
text-align:left; color:#141414; text-indent:-7.2pt; font-weight:bold; margin-left:7.2pt; font-style:normal;"><font
style="font-size:8.0pt; font-family:Cambria; font-style:normal; color:#141414; font-weight:bold; text-decoration:none;">Long-Term
Municipal Investments - 145.4%</font><font style="font-size:8.0pt; font-family:Cambria; font-style:normal;
color:#141414; font-weight:normal; text-decoration:none;">&#160;</font><font style="font-size:8.0pt; font-family:Cambria;
font-style:normal; color:#141414; font-weight:bold; text-decoration:none;">(continued)</font></p></td><td
style="vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid; border-bottom-color:#000000;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; border-bottom:0.5pt;
border-bottom-style:solid; border-bottom-color:#000000; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td
style="vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid; border-bottom-color:#000000;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; border-bottom:0.5pt;
border-bottom-style:solid; border-bottom-color:#000000; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td
style="vertical-align:top; border-bottom:0.5pt; border-bottom-style:solid; border-bottom-color:#000000;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td colspan="5" style=" vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414;
text-indent:-7.2pt; font-weight:bold; margin-left:7.2pt; text-decoration:none;">Florida - 7.6% (continued)</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"
>&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal; margin-left:7.2pt; text-decoration:none;">Hillsborough
County Port District, Revenue Bonds (Tampa Port Authority Project) Ser. B</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">5.00</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">6/1/2046</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">2,500,000</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">2,541,466</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal;
margin-left:7.2pt; text-decoration:none;">Lee Memorial Health System, Revenue Bonds, Refunding, Ser.
A1</p></td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;">4.00</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">4/1/2049</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">1,600,000</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">1,440,758</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414;
text-indent:-7.2pt; font-weight:normal; margin-left:7.2pt; text-decoration:none;">Palm Beach County Health
Facilities Authority, Revenue Bonds (ACTS Retirement-Life Communities Obligated Group)</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">5.00</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">11/15/2045</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">5,775,000</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">5,483,569</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal;
margin-left:7.2pt; text-decoration:none;">Palm Beach County Health Facilities Authority, Revenue Bonds
(Lifespace Communities Obligated Group) Ser. B</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">4.00</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">5/15/2053</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">2,000,000</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">1,164,795</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal;
margin-left:7.2pt; text-decoration:none;">Seminole County Industrial Development Authority, Revenue Bonds,
Refunding (Legacy Pointe at UCF Project)</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">5.75</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">11/15/2054</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">1,000,000</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">783,738</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal;
margin-left:7.2pt; text-decoration:none;">Tender Option Bond Trust Receipts (Series 2019-XM0782), (Palm
Beach County Florida Health Facilities Authority, Revenue Bonds, Refunding (Baptist Health South Florida
Obligated Group)) Recourse, Underlying Coupon Rate (%) 4.00</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">2.35</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">8/15/2049</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">5,535,000</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria;
text-align:left; color:#000000; font-weight:normal; text-decoration:none; vertical-align:super;"><sup>c,e,f</sup><font
style="letter-spacing:-2.0pt;font-size:2.0pt;">&nbsp;</font></p></td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">5,047,560</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal;
margin-left:7.2pt; text-decoration:none;">Tender Option Bond Trust Receipts (Series 2020-XF2877), (Greater
Orlando Aviation Authority, Revenue Bonds, Ser. A) Recourse, Underlying Coupon Rate (%) 4.00</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">2.26</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">10/1/2049</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">4,065,000</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:7.5pt; font-family:Cambria; text-align:left; color:#000000; font-weight:normal; text-decoration:none;
vertical-align:super;"><sup>c,e,f</sup><font style="letter-spacing:-2.0pt;font-size:2.0pt;">&nbsp;</font></p></td><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;">3,711,979</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal;
margin-left:7.2pt; text-decoration:none;">Tender Option Bond Trust Receipts (Series 2022-XF1385), (Fort
Myers FL Utility, Revenue Bonds, Refunding, Ser. A) Non-recourse, Underlying Coupon Rate (%) 4.00</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">2.49</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">10/1/2044</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">2,540,000</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:7.5pt; font-family:Cambria; text-align:left; color:#000000; font-weight:normal; text-decoration:none;
vertical-align:super;"><sup>c,e,f</sup><font style="letter-spacing:-2.0pt;font-size:2.0pt;">&nbsp;</font></p></td><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;">2,483,258</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td colspan="7" style=" vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td colspan="2" style=" vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:bold; text-decoration:none;">24,725,005</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td></tr><tr><td colspan="5" style=" vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414; text-indent:-7.2pt; font-weight:bold;
margin-left:7.2pt; text-decoration:none;">Georgia - 6.8% </p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"
>&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal;
margin-left:7.2pt; text-decoration:none;">Atlanta Water &amp; Wastewater, Revenue Bonds, Ser. D</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">3.50</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">11/1/2028</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">500,000</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:7.5pt; font-family:Cambria; text-align:left; color:#000000; font-weight:normal; text-decoration:none;
vertical-align:super;"><sup>c</sup><font style="letter-spacing:-2.0pt;font-size:2.0pt;">&nbsp;</font></p></td><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;">503,658</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal;
margin-left:7.2pt; text-decoration:none;">Georgia Municipal Electric Authority, Revenue Bonds (Plant
Vogtle Units 3&amp;4 Project) Ser. A</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">5.00</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">7/1/2052</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">2,500,000</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">2,559,273</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal;
margin-left:7.2pt; text-decoration:none;">Main Street Natural Gas, Revenue Bonds, Ser. A</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">5.00</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">6/1/2030</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">1,000,000</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:7.5pt; font-family:Cambria; text-align:left; color:#000000; font-weight:normal; text-decoration:none;
vertical-align:super;"><sup>a</sup><font style="letter-spacing:-2.0pt;font-size:2.0pt;">&nbsp;</font></p></td><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;">1,040,758</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr></table>
<!-- PAGEBREAK_START -->
<p style="font-size:8.0pt; font-family:Arial; text-align:center; font-weight:bold; text-decoration:none;">7</p>

<!-- Field: Rule-Page --><div style="margin: 3pt auto; width: 25%"><div style="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</div></div><!-- Field: /Rule-Page -->
<p style="page-break-before:always;"></p>

<p style="font-size:9.0pt; font-family:Arial; text-align:left; font-weight:normal; font-style:normal;"><font
style="font-size:9.0pt; font-family:Arial; font-style:italic; font-weight:normal; text-decoration:none;">STATEMENT
OF INVESTMENTS (Unaudited) (continued)</font></p>
<!-- PAGEBREAK_END -->
<table cellspacing="0" style="border-collapse:collapse" width="100%" cellpadding="0" style="clear:both"><tr
style="font-size:1pt;"><td style="width:35%;" >&nbsp;</td><td style="width:6%;" >&nbsp;</td><td style="width:9%;"
>&nbsp;</td><td style="width:1%;" >&nbsp;</td><td style="width:13.01%;" >&nbsp;</td><td style="width:1%;"
>&nbsp;</td><td style="width:15%;" >&nbsp;</td><td style="width:4%;" >&nbsp;</td><td style="width:15%;"
>&nbsp;</td><td style="width:1%;" >&nbsp;</td></tr><tr><td colspan="10" style=" vertical-align:bottom;
border-bottom:0.25pt; border-bottom-style:solid; border-bottom-color:#000000; border-top:1.5pt; border-top-style:solid;
border-top-color:#000000; background-color:#D9D9D9; font-size:1pt;">&#160;</td></tr><tr><td style="vertical-align:bottom;
border-bottom:0.5pt; border-bottom-style:solid; border-bottom-color:#000000; border-top:1pt; border-top-style:solid;
border-top-color:#F2F2F2; background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria;
text-align:left; color:#141414; font-weight:normal; text-decoration:none;">Description</p></td><td colspan="2"
style=" vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid; border-bottom-color:#000000;
border-top:1pt; border-top-style:solid; border-top-color:#F2F2F2; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; font-style:normal;"><font style="font-size:7.5pt;
font-family:Cambria; font-style:normal; color:#000000; font-weight:normal; text-decoration:none;"> Coupon
</font><br><font style="font-size:7.5pt; font-family:Cambria; font-style:normal; color:#000000; font-weight:normal;
text-decoration:none;">Rate (%)</font></p></td><td style="vertical-align:bottom; border-bottom:0.5pt;
border-bottom-style:solid; border-bottom-color:#000000; border-top:1pt; border-top-style:solid; border-top-color:#F2F2F2;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; border-bottom:0.5pt;
border-bottom-style:solid; border-bottom-color:#000000; border-top:1pt; border-top-style:solid; border-top-color:#F2F2F2;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; font-style:normal;"><font style="font-size:8.0pt; font-family:Cambria; font-style:normal;
color:#000000; font-weight:normal; text-decoration:none;">&#160;</font><font style="font-size:7.5pt; font-family:Cambria;
font-style:normal; color:#000000; font-weight:normal; text-decoration:none;">Maturity Date</font></p></td><td
style="vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid; border-bottom-color:#000000;
border-top:1pt; border-top-style:solid; border-top-color:#F2F2F2; background-color:#D9D9D9; font-size:1pt;"
>&nbsp;</td><td style="vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid; border-bottom-color:#000000;
border-top:1pt; border-top-style:solid; border-top-color:#F2F2F2; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">Principal
Amount ($)</p></td><td style="vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid;
border-bottom-color:#000000; border-top:1pt; border-top-style:solid; border-top-color:#F2F2F2; background-color:#D9D9D9;
font-size:1pt;"><p style="font-size:7.5pt; font-family:Cambria; text-align:left; color:#000000; font-weight:normal;
text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid;
border-bottom-color:#000000; border-top:1pt; border-top-style:solid; border-top-color:#F2F2F2; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; font-style:normal;"><font
style="font-size:7.5pt; font-family:Cambria; font-style:normal; color:#000000; font-weight:normal; text-decoration:none;">Value
($)</font></p></td><td style="vertical-align:top; border-bottom:0.5pt; border-bottom-style:solid; border-bottom-color:#000000;
border-top:1pt; border-top-style:solid; border-top-color:#F2F2F2; background-color:#D9D9D9; font-size:1pt;"
>&nbsp;</td></tr><tr><td colspan="5" style=" vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid;
border-bottom-color:#000000; background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria;
text-align:left; color:#141414; text-indent:-7.2pt; font-weight:bold; margin-left:7.2pt; font-style:normal;"><font
style="font-size:8.0pt; font-family:Cambria; font-style:normal; color:#141414; font-weight:bold; text-decoration:none;">Long-Term
Municipal Investments - 145.4%</font><font style="font-size:8.0pt; font-family:Cambria; font-style:normal;
color:#141414; font-weight:normal; text-decoration:none;">&#160;</font><font style="font-size:8.0pt; font-family:Cambria;
font-style:normal; color:#141414; font-weight:bold; text-decoration:none;">(continued)</font></p></td><td
style="vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid; border-bottom-color:#000000;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; border-bottom:0.5pt;
border-bottom-style:solid; border-bottom-color:#000000; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td
style="vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid; border-bottom-color:#000000;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; border-bottom:0.5pt;
border-bottom-style:solid; border-bottom-color:#000000; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td
style="vertical-align:top; border-bottom:0.5pt; border-bottom-style:solid; border-bottom-color:#000000;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td colspan="5" style=" vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414;
text-indent:-7.2pt; font-weight:bold; margin-left:7.2pt; text-decoration:none;">Georgia - 6.8% (continued)</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"
>&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal; margin-left:7.2pt; text-decoration:none;">Tender
Option Bond Trust Receipts (Series 2016-XM0435), (Private Colleges &amp; Universities Authority, Revenue
Bonds, Refunding (Emory University)) Recourse, Underlying Coupon Rate (%) 5.00</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">6.14</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">10/1/2043</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">6,000,000</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria;
text-align:left; color:#000000; font-weight:normal; text-decoration:none; vertical-align:super;"><sup>c,e,f</sup><font
style="letter-spacing:-2.0pt;font-size:2.0pt;">&nbsp;</font></p></td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">6,006,371</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal;
margin-left:7.2pt; text-decoration:none;">Tender Option Bond Trust Receipts (Series 2019-XF2847), (Municipal
Electric Authority of Georgia, Revenue Bonds (Plant Vogtle Unis 3&amp;4 Project, Ser. A)) Recourse, Underlying
Coupon Rate (%) 5.00</p></td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"
>&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;">6.00</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">1/1/2056</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">2,720,000</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:7.5pt; font-family:Cambria; text-align:left; color:#000000; font-weight:normal; text-decoration:none;
vertical-align:super;"><sup>c,e,f</sup><font style="letter-spacing:-2.0pt;font-size:2.0pt;">&nbsp;</font></p></td><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;">2,751,636</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal;
margin-left:7.2pt; text-decoration:none;">Tender Option Bond Trust Receipts (Series 2020-XM0825), (Brookhaven
Development Authority, Revenue Bonds (Children's Healthcare of Atlanta, Ser. A)) Recourse, Underlying
Coupon Rate (%) 4.00</p></td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"
>&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;">3.68</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">7/1/2044</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">4,220,000</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:7.5pt; font-family:Cambria; text-align:left; color:#000000; font-weight:normal; text-decoration:none;
vertical-align:super;"><sup>c,e,f</sup><font style="letter-spacing:-2.0pt;font-size:2.0pt;">&nbsp;</font></p></td><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;">4,433,398</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal;
margin-left:7.2pt; text-decoration:none;">The Atlanta Development Authority, Revenue Bonds, Ser. A1</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">5.25</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">7/1/2040</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">1,000,000</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">1,022,590</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414;
text-indent:-7.2pt; font-weight:normal; margin-left:7.2pt; text-decoration:none;">The Burke County Development
Authority, Revenue Bonds, Refunding (Oglethorpe Power Corp.) Ser. D</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">4.13</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">11/1/2045</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">4,200,000</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">3,760,869</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td></tr><tr><td colspan="7" style=" vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td colspan="2" style=" vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000; font-weight:bold; text-decoration:none;">22,078,553</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td colspan="5"
style=" vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; color:#141414; text-indent:-7.2pt; font-weight:bold; margin-left:7.2pt; text-decoration:none;">Hawaii
- 1.5% </p></td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"
>&nbsp;</td></tr><tr><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt;
font-family:Cambria; text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal; margin-left:7.2pt;
text-decoration:none;">Hawaii Airports System, Revenue Bonds, Ser. A</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">5.00</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">7/1/2047</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">2,500,000</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">2,603,911</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal;
margin-left:7.2pt; text-decoration:none;">Hawaii Department of Budget &amp; Finance, Revenue Bonds, Refunding
(Hawaiian Electric Co.)</p></td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"
>&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;">4.00</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">3/1/2037</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">2,500,000</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">2,359,636</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td colspan="7"
style=" vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td colspan="2"
style=" vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:bold; text-decoration:none;">4,963,547</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td colspan="5" style=" vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414;
text-indent:-7.2pt; font-weight:bold; margin-left:7.2pt; text-decoration:none;">Illinois - 15.1% </p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"
>&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal; margin-left:7.2pt; text-decoration:none;">Chicago
Board of Education, GO, Refunding, Ser. A</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">5.00</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">12/1/2033</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">1,250,000</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">1,287,279</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal;
margin-left:7.2pt; text-decoration:none;">Chicago Board of Education, GO, Refunding, Ser. B</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">5.00</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">12/1/2032</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">400,000</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">414,807</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414;
text-indent:-7.2pt; font-weight:normal; margin-left:7.2pt; text-decoration:none;">Chicago Board of Education,
GO, Refunding, Ser. B</p></td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"
>&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;">5.00</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">12/1/2031</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">500,000</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">520,219</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414;
text-indent:-7.2pt; font-weight:normal; margin-left:7.2pt; text-decoration:none;">Chicago II, GO, Refunding,
Ser. A</p></td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;">6.00</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">1/1/2038</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">3,000,000</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">3,181,505</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414;
text-indent:-7.2pt; font-weight:normal; margin-left:7.2pt; text-decoration:none;">Chicago II, GO, Refunding,
Ser. C</p></td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;">5.00</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">1/1/2024</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">1,265,000</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">1,272,777</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414;
text-indent:-7.2pt; font-weight:normal; margin-left:7.2pt; text-decoration:none;">Chicago II, GO, Ser.
A</p></td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;">5.00</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">1/1/2044</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">3,000,000</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">2,954,400</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414;
text-indent:-7.2pt; font-weight:normal; margin-left:7.2pt; text-decoration:none;">Chicago II Wastewater
Transmission, Revenue Bonds, Refunding, Ser. C</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">5.00</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">1/1/2039</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">2,330,000</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">2,351,174</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal;
margin-left:7.2pt; text-decoration:none;">Chicago Transit Authority, Revenue Bonds, Refunding, Ser. A</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">5.00</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">12/1/2057</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">1,000,000</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">1,028,662</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr></table>
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<p style="font-size:8.0pt; font-family:Arial; text-align:center; font-weight:bold; text-decoration:none;">8</p>

<!-- Field: Rule-Page --><div style="margin: 3pt auto; width: 25%"><div style="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</div></div><!-- Field: /Rule-Page -->
<p style="page-break-before:always;"></p>


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<table cellspacing="0" style="border-collapse:collapse" width="100%" cellpadding="0" style="clear:both"><tr
style="font-size:1pt;"><td style="width:35%;" >&nbsp;</td><td style="width:6%;" >&nbsp;</td><td style="width:9%;"
>&nbsp;</td><td style="width:1%;" >&nbsp;</td><td style="width:13.01%;" >&nbsp;</td><td style="width:1%;"
>&nbsp;</td><td style="width:15%;" >&nbsp;</td><td style="width:4%;" >&nbsp;</td><td style="width:15%;"
>&nbsp;</td><td style="width:1%;" >&nbsp;</td></tr><tr><td colspan="10" style=" vertical-align:bottom;
border-bottom:0.25pt; border-bottom-style:solid; border-bottom-color:#000000; border-top:1.5pt; border-top-style:solid;
border-top-color:#000000; background-color:#D9D9D9; font-size:1pt;">&#160;</td></tr><tr><td style="vertical-align:bottom;
border-bottom:0.5pt; border-bottom-style:solid; border-bottom-color:#000000; border-top:1pt; border-top-style:solid;
border-top-color:#F2F2F2; background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria;
text-align:left; color:#141414; font-weight:normal; text-decoration:none;">Description</p></td><td colspan="2"
style=" vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid; border-bottom-color:#000000;
border-top:1pt; border-top-style:solid; border-top-color:#F2F2F2; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; font-style:normal;"><font style="font-size:7.5pt;
font-family:Cambria; font-style:normal; color:#000000; font-weight:normal; text-decoration:none;"> Coupon
</font><br><font style="font-size:7.5pt; font-family:Cambria; font-style:normal; color:#000000; font-weight:normal;
text-decoration:none;">Rate (%)</font></p></td><td style="vertical-align:bottom; border-bottom:0.5pt;
border-bottom-style:solid; border-bottom-color:#000000; border-top:1pt; border-top-style:solid; border-top-color:#F2F2F2;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; border-bottom:0.5pt;
border-bottom-style:solid; border-bottom-color:#000000; border-top:1pt; border-top-style:solid; border-top-color:#F2F2F2;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; font-style:normal;"><font style="font-size:8.0pt; font-family:Cambria; font-style:normal;
color:#000000; font-weight:normal; text-decoration:none;">&#160;</font><font style="font-size:7.5pt; font-family:Cambria;
font-style:normal; color:#000000; font-weight:normal; text-decoration:none;">Maturity Date</font></p></td><td
style="vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid; border-bottom-color:#000000;
border-top:1pt; border-top-style:solid; border-top-color:#F2F2F2; background-color:#D9D9D9; font-size:1pt;"
>&nbsp;</td><td style="vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid; border-bottom-color:#000000;
border-top:1pt; border-top-style:solid; border-top-color:#F2F2F2; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">Principal
Amount ($)</p></td><td style="vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid;
border-bottom-color:#000000; border-top:1pt; border-top-style:solid; border-top-color:#F2F2F2; background-color:#D9D9D9;
font-size:1pt;"><p style="font-size:7.5pt; font-family:Cambria; text-align:left; color:#000000; font-weight:normal;
text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid;
border-bottom-color:#000000; border-top:1pt; border-top-style:solid; border-top-color:#F2F2F2; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; font-style:normal;"><font
style="font-size:7.5pt; font-family:Cambria; font-style:normal; color:#000000; font-weight:normal; text-decoration:none;">Value
($)</font></p></td><td style="vertical-align:top; border-bottom:0.5pt; border-bottom-style:solid; border-bottom-color:#000000;
border-top:1pt; border-top-style:solid; border-top-color:#F2F2F2; background-color:#D9D9D9; font-size:1pt;"
>&nbsp;</td></tr><tr><td colspan="5" style=" vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid;
border-bottom-color:#000000; background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria;
text-align:left; color:#141414; text-indent:-7.2pt; font-weight:bold; margin-left:7.2pt; font-style:normal;"><font
style="font-size:8.0pt; font-family:Cambria; font-style:normal; color:#141414; font-weight:bold; text-decoration:none;">Long-Term
Municipal Investments - 145.4%</font><font style="font-size:8.0pt; font-family:Cambria; font-style:normal;
color:#141414; font-weight:normal; text-decoration:none;">&#160;</font><font style="font-size:8.0pt; font-family:Cambria;
font-style:normal; color:#141414; font-weight:bold; text-decoration:none;">(continued)</font></p></td><td
style="vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid; border-bottom-color:#000000;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; border-bottom:0.5pt;
border-bottom-style:solid; border-bottom-color:#000000; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td
style="vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid; border-bottom-color:#000000;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; border-bottom:0.5pt;
border-bottom-style:solid; border-bottom-color:#000000; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td
style="vertical-align:top; border-bottom:0.5pt; border-bottom-style:solid; border-bottom-color:#000000;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td colspan="5" style=" vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414;
text-indent:-7.2pt; font-weight:bold; margin-left:7.2pt; text-decoration:none;">Illinois - 15.1% (continued)</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"
>&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal; margin-left:7.2pt; text-decoration:none;">Chicago
Transit Authority, Revenue Bonds, Refunding, Ser. A</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">5.00</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">12/1/2045</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">1,000,000</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">1,042,860</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal;
margin-left:7.2pt; text-decoration:none;">Illinois, GO, Refunding, Ser. A</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">5.00</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">10/1/2029</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">1,000,000</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">1,078,831</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal;
margin-left:7.2pt; text-decoration:none;">Illinois, GO, Ser. A</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">5.00</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">5/1/2038</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">2,850,000</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">2,954,645</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal;
margin-left:7.2pt; text-decoration:none;">Illinois, GO, Ser. B</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">5.00</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">11/1/2030</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">1,500,000</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">1,641,078</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal;
margin-left:7.2pt; text-decoration:none;">Illinois, GO, Ser. D</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">5.00</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">11/1/2028</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">3,000,000</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">3,196,715</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal;
margin-left:7.2pt; text-decoration:none;">Metropolitan Pier &amp; Exposition Authority, Revenue Bonds
(McCormick Place Expansion Project)</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">5.00</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">6/15/2057</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">2,500,000</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">2,493,878</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal;
margin-left:7.2pt; text-decoration:none;">Metropolitan Pier &amp; Exposition Authority, Revenue Bonds
(McCormick Place Project) (Insured; National Public Finance Guarantee Corp.) Ser. A</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">0.00</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">12/15/2036</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">2,500,000</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria;
text-align:left; color:#000000; font-weight:normal; text-decoration:none; vertical-align:super;"><sup>g</sup><font
style="letter-spacing:-2.0pt;font-size:2.0pt;">&nbsp;</font></p></td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">1,374,602</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal;
margin-left:7.2pt; text-decoration:none;">Sales Tax Securitization Corp., Revenue Bonds, Refunding, Ser.
A</p></td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;">4.00</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">1/1/2039</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">2,250,000</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">2,143,343</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414;
text-indent:-7.2pt; font-weight:normal; margin-left:7.2pt; text-decoration:none;">Tender Option Bond
Trust Receipts (Series 2017-XM0492), (Illinois Finance Authority, Revenue Bonds, Refunding (The University
of Chicago)) Non-recourse, Underlying Coupon Rate (%) 5.00</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">5.33</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">10/1/2040</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">9,000,000</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria;
text-align:left; color:#000000; font-weight:normal; text-decoration:none; vertical-align:super;"><sup>c,e,f</sup><font
style="letter-spacing:-2.0pt;font-size:2.0pt;">&nbsp;</font></p></td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">9,191,245</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal;
margin-left:7.2pt; text-decoration:none;">Tender Option Bond Trust Receipts (Series 2023-XM1112), (Chicago
IL Water Works, Revenue Bonds (Insured; Assured Guaranty Municipal Corp., Ser. A)) Non-recourse, Underlying
Coupon Rate (%) 5.25</p></td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"
>&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;">-2.93</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">11/1/2053</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">10,000,000</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:7.5pt; font-family:Cambria; text-align:left; color:#000000; font-weight:normal; text-decoration:none;
vertical-align:super;"><sup>c,e,f</sup><font style="letter-spacing:-2.0pt;font-size:2.0pt;">&nbsp;</font></p></td><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;">10,794,374</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td colspan="7" style=" vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td colspan="2" style=" vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:bold; text-decoration:none;">48,922,394</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td></tr><tr><td colspan="5" style=" vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414; text-indent:-7.2pt; font-weight:bold;
margin-left:7.2pt; text-decoration:none;">Indiana - 1.0% </p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"
>&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal;
margin-left:7.2pt; text-decoration:none;">Indiana Finance Authority, Revenue Bonds (Green Bond)</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">7.00</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">3/1/2039</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">4,225,000</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:7.5pt; font-family:Cambria; text-align:left; color:#000000; font-weight:normal; text-decoration:none;
vertical-align:super;"><sup>c</sup><font style="letter-spacing:-2.0pt;font-size:2.0pt;">&nbsp;</font></p></td><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:bold; text-decoration:none;">3,191,339</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td colspan="5" style=" vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414;
text-indent:-7.2pt; font-weight:bold; margin-left:7.2pt; text-decoration:none;">Iowa - 1.9% </p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"
>&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal; margin-left:7.2pt; text-decoration:none;">Iowa
Finance Authority, Revenue Bonds, Refunding (Iowa Fertilizer Co. Project)</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">5.00</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">12/1/2050</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">2,195,000</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">2,204,885</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal;
margin-left:7.2pt; text-decoration:none;">Iowa Finance Authority, Revenue Bonds, Refunding (Lifespace
Communities Obligated Group) Ser. A</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">4.00</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">5/15/2053</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">1,000,000</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">582,397</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal;
margin-left:7.2pt; text-decoration:none;">Iowa Student Loan Liquidity Corp., Revenue Bonds, Ser. B</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">5.00</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">12/1/2032</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">1,000,000</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">1,099,202</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414;
text-indent:-7.2pt; font-weight:normal; margin-left:7.2pt; text-decoration:none;">Iowa Tobacco Settlement
Authority, Revenue Bonds, Refunding, Ser. A2</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">4.00</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">6/1/2049</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">1,400,000</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">1,248,017</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td></tr></table>
<!-- PAGEBREAK_START -->
<p style="font-size:8.0pt; font-family:Arial; text-align:center; font-weight:bold; text-decoration:none;">9</p>

<!-- Field: Rule-Page --><div style="margin: 3pt auto; width: 25%"><div style="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</div></div><!-- Field: /Rule-Page -->
<p style="page-break-before:always;"></p>

<p style="font-size:9.0pt; font-family:Arial; text-align:left; font-weight:normal; font-style:normal;"><font
style="font-size:9.0pt; font-family:Arial; font-style:italic; font-weight:normal; text-decoration:none;">STATEMENT
OF INVESTMENTS (Unaudited) (continued)</font></p>
<!-- PAGEBREAK_END -->
<table cellspacing="0" style="border-collapse:collapse" width="100%" cellpadding="0" style="clear:both"><tr
style="font-size:1pt;"><td style="width:35%;" >&nbsp;</td><td style="width:6%;" >&nbsp;</td><td style="width:9%;"
>&nbsp;</td><td style="width:1%;" >&nbsp;</td><td style="width:13.01%;" >&nbsp;</td><td style="width:1%;"
>&nbsp;</td><td style="width:15%;" >&nbsp;</td><td style="width:4%;" >&nbsp;</td><td style="width:15%;"
>&nbsp;</td><td style="width:1%;" >&nbsp;</td></tr><tr><td colspan="10" style=" vertical-align:bottom;
border-bottom:0.25pt; border-bottom-style:solid; border-bottom-color:#000000; border-top:1.5pt; border-top-style:solid;
border-top-color:#000000; background-color:#D9D9D9; font-size:1pt;">&#160;</td></tr><tr><td style="vertical-align:bottom;
border-bottom:0.5pt; border-bottom-style:solid; border-bottom-color:#000000; border-top:1pt; border-top-style:solid;
border-top-color:#F2F2F2; background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria;
text-align:left; color:#141414; font-weight:normal; text-decoration:none;">Description</p></td><td colspan="2"
style=" vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid; border-bottom-color:#000000;
border-top:1pt; border-top-style:solid; border-top-color:#F2F2F2; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; font-style:normal;"><font style="font-size:7.5pt;
font-family:Cambria; font-style:normal; color:#000000; font-weight:normal; text-decoration:none;"> Coupon
</font><br><font style="font-size:7.5pt; font-family:Cambria; font-style:normal; color:#000000; font-weight:normal;
text-decoration:none;">Rate (%)</font></p></td><td style="vertical-align:bottom; border-bottom:0.5pt;
border-bottom-style:solid; border-bottom-color:#000000; border-top:1pt; border-top-style:solid; border-top-color:#F2F2F2;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; border-bottom:0.5pt;
border-bottom-style:solid; border-bottom-color:#000000; border-top:1pt; border-top-style:solid; border-top-color:#F2F2F2;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; font-style:normal;"><font style="font-size:8.0pt; font-family:Cambria; font-style:normal;
color:#000000; font-weight:normal; text-decoration:none;">&#160;</font><font style="font-size:7.5pt; font-family:Cambria;
font-style:normal; color:#000000; font-weight:normal; text-decoration:none;">Maturity Date</font></p></td><td
style="vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid; border-bottom-color:#000000;
border-top:1pt; border-top-style:solid; border-top-color:#F2F2F2; background-color:#D9D9D9; font-size:1pt;"
>&nbsp;</td><td style="vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid; border-bottom-color:#000000;
border-top:1pt; border-top-style:solid; border-top-color:#F2F2F2; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">Principal
Amount ($)</p></td><td style="vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid;
border-bottom-color:#000000; border-top:1pt; border-top-style:solid; border-top-color:#F2F2F2; background-color:#D9D9D9;
font-size:1pt;"><p style="font-size:7.5pt; font-family:Cambria; text-align:left; color:#000000; font-weight:normal;
text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid;
border-bottom-color:#000000; border-top:1pt; border-top-style:solid; border-top-color:#F2F2F2; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; font-style:normal;"><font
style="font-size:7.5pt; font-family:Cambria; font-style:normal; color:#000000; font-weight:normal; text-decoration:none;">Value
($)</font></p></td><td style="vertical-align:top; border-bottom:0.5pt; border-bottom-style:solid; border-bottom-color:#000000;
border-top:1pt; border-top-style:solid; border-top-color:#F2F2F2; background-color:#D9D9D9; font-size:1pt;"
>&nbsp;</td></tr><tr><td colspan="5" style=" vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid;
border-bottom-color:#000000; background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria;
text-align:left; color:#141414; text-indent:-7.2pt; font-weight:bold; margin-left:7.2pt; font-style:normal;"><font
style="font-size:8.0pt; font-family:Cambria; font-style:normal; color:#141414; font-weight:bold; text-decoration:none;">Long-Term
Municipal Investments - 145.4%</font><font style="font-size:8.0pt; font-family:Cambria; font-style:normal;
color:#141414; font-weight:normal; text-decoration:none;">&#160;</font><font style="font-size:8.0pt; font-family:Cambria;
font-style:normal; color:#141414; font-weight:bold; text-decoration:none;">(continued)</font></p></td><td
style="vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid; border-bottom-color:#000000;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; border-bottom:0.5pt;
border-bottom-style:solid; border-bottom-color:#000000; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td
style="vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid; border-bottom-color:#000000;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; border-bottom:0.5pt;
border-bottom-style:solid; border-bottom-color:#000000; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td
style="vertical-align:top; border-bottom:0.5pt; border-bottom-style:solid; border-bottom-color:#000000;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td colspan="5" style=" vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414;
text-indent:-7.2pt; font-weight:bold; margin-left:7.2pt; text-decoration:none;">Iowa - 1.9% (continued)</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"
>&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal; margin-left:7.2pt; text-decoration:none;">Iowa
Tobacco Settlement Authority, Revenue Bonds, Refunding, Ser. B1</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">4.00</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">6/1/2049</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">945,000</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">925,383</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td></tr><tr><td colspan="7" style=" vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td colspan="2" style=" vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000; font-weight:bold; text-decoration:none;">6,059,884</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td colspan="5"
style=" vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; color:#141414; text-indent:-7.2pt; font-weight:bold; margin-left:7.2pt; text-decoration:none;">Kentucky
- 2.5% </p></td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"
>&nbsp;</td></tr><tr><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt;
font-family:Cambria; text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal; margin-left:7.2pt;
text-decoration:none;">Christian County, Revenue Bonds, Refunding (Jennie Stuart Medical Center Obligated
Group)</p></td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;">5.50</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">2/1/2044</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">2,800,000</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">2,845,811</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414;
text-indent:-7.2pt; font-weight:normal; margin-left:7.2pt; text-decoration:none;">Kentucky Public Energy
Authority, Revenue Bonds, Ser. A1</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">4.00</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">6/1/2025</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">2,560,000</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria;
text-align:left; color:#000000; font-weight:normal; text-decoration:none; vertical-align:super;"><sup>a</sup><font
style="letter-spacing:-2.0pt;font-size:2.0pt;">&nbsp;</font></p></td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">2,553,211</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal;
margin-left:7.2pt; text-decoration:none;">Kentucky Public Energy Authority, Revenue Bonds, Ser. A1</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">4.00</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">8/1/2030</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">2,680,000</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:7.5pt; font-family:Cambria; text-align:left; color:#000000; font-weight:normal; text-decoration:none;
vertical-align:super;"><sup>a</sup><font style="letter-spacing:-2.0pt;font-size:2.0pt;">&nbsp;</font></p></td><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;">2,610,426</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td colspan="7" style=" vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td colspan="2" style=" vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:bold; text-decoration:none;">8,009,448</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td></tr><tr><td colspan="5" style=" vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414; text-indent:-7.2pt; font-weight:bold;
margin-left:7.2pt; text-decoration:none;">Louisiana - 3.6% </p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"
>&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414;
text-indent:-7.2pt; font-weight:normal; margin-left:7.2pt; text-decoration:none;">Louisiana Local Government
Environmental Facilities &amp; Community Development Authority, Revenue Bonds, Refunding (Westlake Chemical
Project)</p></td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;">3.50</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">11/1/2032</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">2,400,000</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">2,282,993</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414;
text-indent:-7.2pt; font-weight:normal; margin-left:7.2pt; text-decoration:none;">New Orleans Aviation
Board, Revenue Bonds (General Airport-N Terminal Project) Ser. A</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">5.00</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">1/1/2048</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">1,000,000</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">1,025,275</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal;
margin-left:7.2pt; text-decoration:none;">Tender Option Bond Trust Receipts (Series 2018-XF2584), (Louisiana
Public Facilities Authority, Revenue Bonds (Franciscan Missionaries of Our Lady Health System Project))
Non-recourse, Underlying Coupon Rate (%) 5.00</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">5.81</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">7/1/2047</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">8,195,000</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria;
text-align:left; color:#000000; font-weight:normal; text-decoration:none; vertical-align:super;"><sup>c,e,f</sup><font
style="letter-spacing:-2.0pt;font-size:2.0pt;">&nbsp;</font></p></td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">8,279,462</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td></tr><tr><td colspan="7" style=" vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td colspan="2" style=" vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000; font-weight:bold; text-decoration:none;">11,587,730</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td colspan="5"
style=" vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; color:#141414; text-indent:-7.2pt; font-weight:bold; margin-left:7.2pt; text-decoration:none;">Maryland
- 3.0% </p></td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"
>&nbsp;</td></tr><tr><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt;
font-family:Cambria; text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal; margin-left:7.2pt;
text-decoration:none;">Maryland Economic Development Corp., Revenue Bonds (Green Bond) (Purple Line Transit
Partners) Ser. B</p></td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"
>&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;">5.25</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">6/30/2052</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">1,575,000</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">1,602,691</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414;
text-indent:-7.2pt; font-weight:normal; margin-left:7.2pt; text-decoration:none;">Maryland Health &amp;
Higher Educational Facilities Authority, Revenue Bonds (Adventist Healthcare Obligated Group) Ser. A</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">5.50</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">1/1/2046</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">3,250,000</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">3,282,973</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414;
text-indent:-7.2pt; font-weight:normal; margin-left:7.2pt; text-decoration:none;">Maryland Health &amp;
Higher Educational Facilities Authority, Revenue Bonds, Refunding (Stevenson University Project)</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">4.00</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">6/1/2051</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">1,000,000</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">860,655</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr></table>
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<p style="font-size:8.0pt; font-family:Arial; text-align:center; font-weight:bold; text-decoration:none;">10</p>

<!-- Field: Rule-Page --><div style="margin: 3pt auto; width: 25%"><div style="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</div></div><!-- Field: /Rule-Page -->
<p style="page-break-before:always;"></p>


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<table cellspacing="0" style="border-collapse:collapse" width="100%" cellpadding="0" style="clear:both"><tr
style="font-size:1pt;"><td style="width:35%;" >&nbsp;</td><td style="width:6%;" >&nbsp;</td><td style="width:9%;"
>&nbsp;</td><td style="width:1%;" >&nbsp;</td><td style="width:13.01%;" >&nbsp;</td><td style="width:1%;"
>&nbsp;</td><td style="width:15%;" >&nbsp;</td><td style="width:4%;" >&nbsp;</td><td style="width:15%;"
>&nbsp;</td><td style="width:1%;" >&nbsp;</td></tr><tr><td colspan="10" style=" vertical-align:bottom;
border-bottom:0.25pt; border-bottom-style:solid; border-bottom-color:#000000; border-top:1.5pt; border-top-style:solid;
border-top-color:#000000; background-color:#D9D9D9; font-size:1pt;">&#160;</td></tr><tr><td style="vertical-align:bottom;
border-bottom:0.5pt; border-bottom-style:solid; border-bottom-color:#000000; border-top:1pt; border-top-style:solid;
border-top-color:#F2F2F2; background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria;
text-align:left; color:#141414; font-weight:normal; text-decoration:none;">Description</p></td><td colspan="2"
style=" vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid; border-bottom-color:#000000;
border-top:1pt; border-top-style:solid; border-top-color:#F2F2F2; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; font-style:normal;"><font style="font-size:7.5pt;
font-family:Cambria; font-style:normal; color:#000000; font-weight:normal; text-decoration:none;"> Coupon
</font><br><font style="font-size:7.5pt; font-family:Cambria; font-style:normal; color:#000000; font-weight:normal;
text-decoration:none;">Rate (%)</font></p></td><td style="vertical-align:bottom; border-bottom:0.5pt;
border-bottom-style:solid; border-bottom-color:#000000; border-top:1pt; border-top-style:solid; border-top-color:#F2F2F2;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; border-bottom:0.5pt;
border-bottom-style:solid; border-bottom-color:#000000; border-top:1pt; border-top-style:solid; border-top-color:#F2F2F2;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; font-style:normal;"><font style="font-size:8.0pt; font-family:Cambria; font-style:normal;
color:#000000; font-weight:normal; text-decoration:none;">&#160;</font><font style="font-size:7.5pt; font-family:Cambria;
font-style:normal; color:#000000; font-weight:normal; text-decoration:none;">Maturity Date</font></p></td><td
style="vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid; border-bottom-color:#000000;
border-top:1pt; border-top-style:solid; border-top-color:#F2F2F2; background-color:#D9D9D9; font-size:1pt;"
>&nbsp;</td><td style="vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid; border-bottom-color:#000000;
border-top:1pt; border-top-style:solid; border-top-color:#F2F2F2; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">Principal
Amount ($)</p></td><td style="vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid;
border-bottom-color:#000000; border-top:1pt; border-top-style:solid; border-top-color:#F2F2F2; background-color:#D9D9D9;
font-size:1pt;"><p style="font-size:7.5pt; font-family:Cambria; text-align:left; color:#000000; font-weight:normal;
text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid;
border-bottom-color:#000000; border-top:1pt; border-top-style:solid; border-top-color:#F2F2F2; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; font-style:normal;"><font
style="font-size:7.5pt; font-family:Cambria; font-style:normal; color:#000000; font-weight:normal; text-decoration:none;">Value
($)</font></p></td><td style="vertical-align:top; border-bottom:0.5pt; border-bottom-style:solid; border-bottom-color:#000000;
border-top:1pt; border-top-style:solid; border-top-color:#F2F2F2; background-color:#D9D9D9; font-size:1pt;"
>&nbsp;</td></tr><tr><td colspan="5" style=" vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid;
border-bottom-color:#000000; background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria;
text-align:left; color:#141414; text-indent:-7.2pt; font-weight:bold; margin-left:7.2pt; font-style:normal;"><font
style="font-size:8.0pt; font-family:Cambria; font-style:normal; color:#141414; font-weight:bold; text-decoration:none;">Long-Term
Municipal Investments - 145.4%</font><font style="font-size:8.0pt; font-family:Cambria; font-style:normal;
color:#141414; font-weight:normal; text-decoration:none;">&#160;</font><font style="font-size:8.0pt; font-family:Cambria;
font-style:normal; color:#141414; font-weight:bold; text-decoration:none;">(continued)</font></p></td><td
style="vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid; border-bottom-color:#000000;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; border-bottom:0.5pt;
border-bottom-style:solid; border-bottom-color:#000000; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td
style="vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid; border-bottom-color:#000000;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; border-bottom:0.5pt;
border-bottom-style:solid; border-bottom-color:#000000; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td
style="vertical-align:top; border-bottom:0.5pt; border-bottom-style:solid; border-bottom-color:#000000;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td colspan="5" style=" vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414;
text-indent:-7.2pt; font-weight:bold; margin-left:7.2pt; text-decoration:none;">Maryland - 3.0% (continued)</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"
>&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal; margin-left:7.2pt; text-decoration:none;">Tender
Option Bond Trust Receipts (Series 2016-XM0391), (Mayor &amp; City Council of Baltimore, Revenue Bonds,
Refunding (Water Projects)) Non-recourse, Underlying Coupon Rate (%) 5.00</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">5.33</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">7/1/2042</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">4,000,000</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria;
text-align:left; color:#000000; font-weight:normal; text-decoration:none; vertical-align:super;"><sup>c,e,f</sup><font
style="letter-spacing:-2.0pt;font-size:2.0pt;">&nbsp;</font></p></td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">4,037,226</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td></tr><tr><td colspan="7" style=" vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td colspan="2" style=" vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000; font-weight:bold; text-decoration:none;">9,783,545</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td colspan="5"
style=" vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; color:#141414; text-indent:-7.2pt; font-weight:bold; margin-left:7.2pt; text-decoration:none;">Massachusetts
- 3.3% </p></td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"
>&nbsp;</td></tr><tr><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt;
font-family:Cambria; text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal; margin-left:7.2pt;
text-decoration:none;">Massachusetts Development Finance Agency, Revenue Bonds, Refunding (Boston Medical
Center Corp. Obligated Group)</p></td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"
>&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;">5.25</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">7/1/2052</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">1,000,000</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">1,040,780</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414;
text-indent:-7.2pt; font-weight:normal; margin-left:7.2pt; text-decoration:none;">Massachusetts Development
Finance Agency, Revenue Bonds, Refunding (UMass Memorial Health Care Obligated Group) Ser. K</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">5.00</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">7/1/2038</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">2,130,000</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">2,169,064</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414;
text-indent:-7.2pt; font-weight:normal; margin-left:7.2pt; text-decoration:none;">Massachusetts Development
Finance Agency, Revenue Bonds, Refunding, Ser. A</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">5.00</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">7/1/2029</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">1,000,000</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">1,035,315</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal;
margin-left:7.2pt; text-decoration:none;">Massachusetts Educational Financing Authority, Revenue Bonds,
Ser. B</p></td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;">5.00</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">7/1/2030</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">1,000,000</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">1,071,827</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414;
text-indent:-7.2pt; font-weight:normal; margin-left:7.2pt; text-decoration:none;">Tender Option Bond
Trust Receipts (Series 2018-XF0610), (Massachusetts Transportation Fund, Revenue Bonds (Rail Enhancement
&amp; Accelerated Bridge Programs)) Non-recourse, Underlying Coupon Rate (%) 5.00</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">5.60</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">6/1/2047</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">5,250,000</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria;
text-align:left; color:#000000; font-weight:normal; text-decoration:none; vertical-align:super;"><sup>c,e,f</sup><font
style="letter-spacing:-2.0pt;font-size:2.0pt;">&nbsp;</font></p></td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">5,484,086</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td></tr><tr><td colspan="7" style=" vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td colspan="2" style=" vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000; font-weight:bold; text-decoration:none;">10,801,072</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td colspan="5"
style=" vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; color:#141414; text-indent:-7.2pt; font-weight:bold; margin-left:7.2pt; text-decoration:none;">Michigan
- 4.4% </p></td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"
>&nbsp;</td></tr><tr><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt;
font-family:Cambria; text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal; margin-left:7.2pt;
text-decoration:none;">Great Lakes Water Authority Sewage Disposal System, Revenue Bonds, Refunding,
Ser. C</p></td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;">5.00</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">7/1/2036</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">2,000,000</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">2,085,503</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414;
text-indent:-7.2pt; font-weight:normal; margin-left:7.2pt; text-decoration:none;">Michigan Building Authority,
Revenue Bonds, Refunding</p></td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"
>&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;">4.00</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">10/15/2049</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">2,500,000</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">2,437,270</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414;
text-indent:-7.2pt; font-weight:normal; margin-left:7.2pt; text-decoration:none;">Michigan Finance Authority,
Revenue Bonds, Refunding</p></td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"
>&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;">4.00</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">4/15/2042</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">1,000,000</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">952,808</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414;
text-indent:-7.2pt; font-weight:normal; margin-left:7.2pt; text-decoration:none;">Michigan Finance Authority,
Revenue Bonds, Refunding (Insured; National Public Finance Guarantee Corp.) Ser. D6</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">5.00</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">7/1/2036</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">1,000,000</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">1,009,005</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal;
margin-left:7.2pt; text-decoration:none;">Michigan Strategic Fund, Revenue Bonds (AMT-I-75 Improvement
Project)</p></td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;">5.00</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">12/31/2043</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">5,000,000</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">5,004,546</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr></table>
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<p style="font-size:8.0pt; font-family:Arial; text-align:center; font-weight:bold; text-decoration:none;">11</p>

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<p style="page-break-before:always;"></p>

<p style="font-size:9.0pt; font-family:Arial; text-align:left; font-weight:normal; font-style:normal;"><font
style="font-size:9.0pt; font-family:Arial; font-style:italic; font-weight:normal; text-decoration:none;">STATEMENT
OF INVESTMENTS (Unaudited) (continued)</font></p>
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<table cellspacing="0" style="border-collapse:collapse" width="100%" cellpadding="0" style="clear:both"><tr
style="font-size:1pt;"><td style="width:35%;" >&nbsp;</td><td style="width:6%;" >&nbsp;</td><td style="width:9%;"
>&nbsp;</td><td style="width:1%;" >&nbsp;</td><td style="width:13.01%;" >&nbsp;</td><td style="width:1%;"
>&nbsp;</td><td style="width:15%;" >&nbsp;</td><td style="width:4%;" >&nbsp;</td><td style="width:15%;"
>&nbsp;</td><td style="width:1%;" >&nbsp;</td></tr><tr><td colspan="10" style=" vertical-align:bottom;
border-bottom:0.25pt; border-bottom-style:solid; border-bottom-color:#000000; border-top:1.5pt; border-top-style:solid;
border-top-color:#000000; background-color:#D9D9D9; font-size:1pt;">&#160;</td></tr><tr><td style="vertical-align:bottom;
border-bottom:0.5pt; border-bottom-style:solid; border-bottom-color:#000000; border-top:1pt; border-top-style:solid;
border-top-color:#F2F2F2; background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria;
text-align:left; color:#141414; font-weight:normal; text-decoration:none;">Description</p></td><td colspan="2"
style=" vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid; border-bottom-color:#000000;
border-top:1pt; border-top-style:solid; border-top-color:#F2F2F2; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; font-style:normal;"><font style="font-size:7.5pt;
font-family:Cambria; font-style:normal; color:#000000; font-weight:normal; text-decoration:none;"> Coupon
</font><br><font style="font-size:7.5pt; font-family:Cambria; font-style:normal; color:#000000; font-weight:normal;
text-decoration:none;">Rate (%)</font></p></td><td style="vertical-align:bottom; border-bottom:0.5pt;
border-bottom-style:solid; border-bottom-color:#000000; border-top:1pt; border-top-style:solid; border-top-color:#F2F2F2;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; border-bottom:0.5pt;
border-bottom-style:solid; border-bottom-color:#000000; border-top:1pt; border-top-style:solid; border-top-color:#F2F2F2;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; font-style:normal;"><font style="font-size:8.0pt; font-family:Cambria; font-style:normal;
color:#000000; font-weight:normal; text-decoration:none;">&#160;</font><font style="font-size:7.5pt; font-family:Cambria;
font-style:normal; color:#000000; font-weight:normal; text-decoration:none;">Maturity Date</font></p></td><td
style="vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid; border-bottom-color:#000000;
border-top:1pt; border-top-style:solid; border-top-color:#F2F2F2; background-color:#D9D9D9; font-size:1pt;"
>&nbsp;</td><td style="vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid; border-bottom-color:#000000;
border-top:1pt; border-top-style:solid; border-top-color:#F2F2F2; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">Principal
Amount ($)</p></td><td style="vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid;
border-bottom-color:#000000; border-top:1pt; border-top-style:solid; border-top-color:#F2F2F2; background-color:#D9D9D9;
font-size:1pt;"><p style="font-size:7.5pt; font-family:Cambria; text-align:left; color:#000000; font-weight:normal;
text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid;
border-bottom-color:#000000; border-top:1pt; border-top-style:solid; border-top-color:#F2F2F2; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; font-style:normal;"><font
style="font-size:7.5pt; font-family:Cambria; font-style:normal; color:#000000; font-weight:normal; text-decoration:none;">Value
($)</font></p></td><td style="vertical-align:top; border-bottom:0.5pt; border-bottom-style:solid; border-bottom-color:#000000;
border-top:1pt; border-top-style:solid; border-top-color:#F2F2F2; background-color:#D9D9D9; font-size:1pt;"
>&nbsp;</td></tr><tr><td colspan="5" style=" vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid;
border-bottom-color:#000000; background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria;
text-align:left; color:#141414; text-indent:-7.2pt; font-weight:bold; margin-left:7.2pt; font-style:normal;"><font
style="font-size:8.0pt; font-family:Cambria; font-style:normal; color:#141414; font-weight:bold; text-decoration:none;">Long-Term
Municipal Investments - 145.4%</font><font style="font-size:8.0pt; font-family:Cambria; font-style:normal;
color:#141414; font-weight:normal; text-decoration:none;">&#160;</font><font style="font-size:8.0pt; font-family:Cambria;
font-style:normal; color:#141414; font-weight:bold; text-decoration:none;">(continued)</font></p></td><td
style="vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid; border-bottom-color:#000000;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; border-bottom:0.5pt;
border-bottom-style:solid; border-bottom-color:#000000; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td
style="vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid; border-bottom-color:#000000;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; border-bottom:0.5pt;
border-bottom-style:solid; border-bottom-color:#000000; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td
style="vertical-align:top; border-bottom:0.5pt; border-bottom-style:solid; border-bottom-color:#000000;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td colspan="5" style=" vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414;
text-indent:-7.2pt; font-weight:bold; margin-left:7.2pt; text-decoration:none;">Michigan - 4.4% (continued)</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"
>&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal; margin-left:7.2pt; text-decoration:none;">Pontiac
School District, GO (Insured; Qualified School Board Loan Fund)</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">4.00</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">5/1/2045</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">2,700,000</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">2,642,617</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td></tr><tr><td colspan="7" style=" vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td colspan="2" style=" vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000; font-weight:bold; text-decoration:none;">14,131,749</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td colspan="5"
style=" vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; color:#141414; text-indent:-7.2pt; font-weight:bold; margin-left:7.2pt; text-decoration:none;">Minnesota
- 1.3% </p></td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"
>&nbsp;</td></tr><tr><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt;
font-family:Cambria; text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal; margin-left:7.2pt;
text-decoration:none;">Duluth Economic Development Authority, Revenue Bonds, Refunding (Essentia Health
Obligated Group) Ser. A</p></td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"
>&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;">5.00</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">2/15/2058</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">4,000,000</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:bold; text-decoration:none;">4,038,261</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td colspan="5"
style=" vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; color:#141414; text-indent:-7.2pt; font-weight:bold; margin-left:7.2pt; text-decoration:none;">Missouri
- 4.4% </p></td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"
>&nbsp;</td></tr><tr><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt;
font-family:Cambria; text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal; margin-left:7.2pt;
text-decoration:none;">Missouri Health &amp; Educational Facilities Authority, Revenue Bonds, Refunding
(Lutheran Senior Services Projects)</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">5.00</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">2/1/2046</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">1,200,000</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">1,092,348</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal;
margin-left:7.2pt; text-decoration:none;">St. Louis Land Clearance for Redevelopment Authority, Revenue
Bonds</p></td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;">5.13</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">6/1/2046</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">4,665,000</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">4,700,675</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414;
text-indent:-7.2pt; font-weight:normal; margin-left:7.2pt; text-decoration:none;">Tender Option Bond
Trust Receipts (Series 2023-XM1116), (Jackson County Missouri Special Obligation, Revenue Bonds, Refunding,
Ser. A) Non-recourse, Underlying Coupon Rate (%) 4.25</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">0.55</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">12/1/2053</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">6,000,000</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria;
text-align:left; color:#000000; font-weight:normal; text-decoration:none; vertical-align:super;"><sup>c,e,f</sup><font
style="letter-spacing:-2.0pt;font-size:2.0pt;">&nbsp;</font></p></td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">5,698,673</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal;
margin-left:7.2pt; text-decoration:none;">The Missouri Health &amp; Educational Facilities Authority,
Revenue Bonds (Lutheran Senior Services Projects) Ser. A</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">5.00</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">2/1/2042</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">1,000,000</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">927,723</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal;
margin-left:7.2pt; text-decoration:none;">The Missouri Health &amp; Educational Facilities Authority,
Revenue Bonds (Mercy Health)</p></td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"
>&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;">4.00</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">6/1/2053</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">2,000,000</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">1,827,402</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td colspan="7"
style=" vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td colspan="2"
style=" vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:bold; text-decoration:none;">14,246,821</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td colspan="5" style=" vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414;
text-indent:-7.2pt; font-weight:bold; margin-left:7.2pt; text-decoration:none;">Multi-State - .7% </p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"
>&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal; margin-left:7.2pt; text-decoration:none;">Federal
Home Loan Mortgage Corp. Multifamily Variable Rate Certificates, Revenue Bonds, Ser. M048</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">3.15</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">1/15/2036</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">2,365,000</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:7.5pt; font-family:Cambria; text-align:left; color:#000000; font-weight:normal; text-decoration:none;
vertical-align:super;"><sup>c</sup><font style="letter-spacing:-2.0pt;font-size:2.0pt;">&nbsp;</font></p></td><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:bold; text-decoration:none;">2,135,276</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td colspan="5" style=" vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414;
text-indent:-7.2pt; font-weight:bold; margin-left:7.2pt; text-decoration:none;">Nevada - 2.2% </p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"
>&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal; margin-left:7.2pt; text-decoration:none;">Clark
County School District, GO (Insured; Assured Guaranty Municipal Corp.) Ser. A</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">4.25</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">6/15/2041</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">2,770,000</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">2,801,482</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal;
margin-left:7.2pt; text-decoration:none;">Reno, Revenue Bonds, Refunding (Insured; Assured Guaranty Municipal
Corp.)</p></td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;">4.00</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">6/1/2058</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">5,000,000</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">4,344,856</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td colspan="7"
style=" vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td colspan="2"
style=" vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:bold; text-decoration:none;">7,146,338</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr></table>
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<p style="font-size:8.0pt; font-family:Arial; text-align:center; font-weight:bold; text-decoration:none;">12</p>

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<p style="page-break-before:always;"></p>


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<table cellspacing="0" style="border-collapse:collapse" width="100%" cellpadding="0" style="clear:both"><tr
style="font-size:1pt;"><td style="width:35%;" >&nbsp;</td><td style="width:6%;" >&nbsp;</td><td style="width:9%;"
>&nbsp;</td><td style="width:1%;" >&nbsp;</td><td style="width:13.01%;" >&nbsp;</td><td style="width:1%;"
>&nbsp;</td><td style="width:15%;" >&nbsp;</td><td style="width:4%;" >&nbsp;</td><td style="width:15%;"
>&nbsp;</td><td style="width:1%;" >&nbsp;</td></tr><tr><td colspan="10" style=" vertical-align:bottom;
border-bottom:0.25pt; border-bottom-style:solid; border-bottom-color:#000000; border-top:1.5pt; border-top-style:solid;
border-top-color:#000000; background-color:#D9D9D9; font-size:1pt;">&#160;</td></tr><tr><td style="vertical-align:bottom;
border-bottom:0.5pt; border-bottom-style:solid; border-bottom-color:#000000; border-top:1pt; border-top-style:solid;
border-top-color:#F2F2F2; background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria;
text-align:left; color:#141414; font-weight:normal; text-decoration:none;">Description</p></td><td colspan="2"
style=" vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid; border-bottom-color:#000000;
border-top:1pt; border-top-style:solid; border-top-color:#F2F2F2; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; font-style:normal;"><font style="font-size:7.5pt;
font-family:Cambria; font-style:normal; color:#000000; font-weight:normal; text-decoration:none;"> Coupon
</font><br><font style="font-size:7.5pt; font-family:Cambria; font-style:normal; color:#000000; font-weight:normal;
text-decoration:none;">Rate (%)</font></p></td><td style="vertical-align:bottom; border-bottom:0.5pt;
border-bottom-style:solid; border-bottom-color:#000000; border-top:1pt; border-top-style:solid; border-top-color:#F2F2F2;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; border-bottom:0.5pt;
border-bottom-style:solid; border-bottom-color:#000000; border-top:1pt; border-top-style:solid; border-top-color:#F2F2F2;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; font-style:normal;"><font style="font-size:8.0pt; font-family:Cambria; font-style:normal;
color:#000000; font-weight:normal; text-decoration:none;">&#160;</font><font style="font-size:7.5pt; font-family:Cambria;
font-style:normal; color:#000000; font-weight:normal; text-decoration:none;">Maturity Date</font></p></td><td
style="vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid; border-bottom-color:#000000;
border-top:1pt; border-top-style:solid; border-top-color:#F2F2F2; background-color:#D9D9D9; font-size:1pt;"
>&nbsp;</td><td style="vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid; border-bottom-color:#000000;
border-top:1pt; border-top-style:solid; border-top-color:#F2F2F2; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">Principal
Amount ($)</p></td><td style="vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid;
border-bottom-color:#000000; border-top:1pt; border-top-style:solid; border-top-color:#F2F2F2; background-color:#D9D9D9;
font-size:1pt;"><p style="font-size:7.5pt; font-family:Cambria; text-align:left; color:#000000; font-weight:normal;
text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid;
border-bottom-color:#000000; border-top:1pt; border-top-style:solid; border-top-color:#F2F2F2; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; font-style:normal;"><font
style="font-size:7.5pt; font-family:Cambria; font-style:normal; color:#000000; font-weight:normal; text-decoration:none;">Value
($)</font></p></td><td style="vertical-align:top; border-bottom:0.5pt; border-bottom-style:solid; border-bottom-color:#000000;
border-top:1pt; border-top-style:solid; border-top-color:#F2F2F2; background-color:#D9D9D9; font-size:1pt;"
>&nbsp;</td></tr><tr><td colspan="5" style=" vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid;
border-bottom-color:#000000; background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria;
text-align:left; color:#141414; text-indent:-7.2pt; font-weight:bold; margin-left:7.2pt; font-style:normal;"><font
style="font-size:8.0pt; font-family:Cambria; font-style:normal; color:#141414; font-weight:bold; text-decoration:none;">Long-Term
Municipal Investments - 145.4%</font><font style="font-size:8.0pt; font-family:Cambria; font-style:normal;
color:#141414; font-weight:normal; text-decoration:none;">&#160;</font><font style="font-size:8.0pt; font-family:Cambria;
font-style:normal; color:#141414; font-weight:bold; text-decoration:none;">(continued)</font></p></td><td
style="vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid; border-bottom-color:#000000;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; border-bottom:0.5pt;
border-bottom-style:solid; border-bottom-color:#000000; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td
style="vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid; border-bottom-color:#000000;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; border-bottom:0.5pt;
border-bottom-style:solid; border-bottom-color:#000000; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td
style="vertical-align:top; border-bottom:0.5pt; border-bottom-style:solid; border-bottom-color:#000000;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td colspan="5" style=" vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414;
text-indent:-7.2pt; font-weight:bold; margin-left:7.2pt; text-decoration:none;">New Hampshire - .4% </p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"
>&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal; margin-left:7.2pt; text-decoration:none;">New
Hampshire Business Finance Authority, Revenue Bonds, Refunding (Springpoint Senior Living Obligated Group)</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">4.00</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">1/1/2051</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">1,500,000</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:bold; text-decoration:none;">1,128,935</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td colspan="5"
style=" vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; color:#141414; text-indent:-7.2pt; font-weight:bold; margin-left:7.2pt; text-decoration:none;">New
Jersey - 6.7% </p></td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"
>&nbsp;</td></tr><tr><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt;
font-family:Cambria; text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal; margin-left:7.2pt;
text-decoration:none;">New Jersey, GO (COVID-19 Emergency Bonds) Ser. A</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">4.00</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">6/1/2031</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">1,000,000</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">1,065,655</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal;
margin-left:7.2pt; text-decoration:none;">New Jersey Health Care Facilities Financing Authority, Revenue
Bonds (RWJ Barnabas Health Obligated Group)</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">4.00</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">7/1/2051</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">1,250,000</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">1,173,206</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal;
margin-left:7.2pt; text-decoration:none;">New Jersey Housing &amp; Mortgage Finance Agency, Revenue Bonds,
Refunding, Ser. D</p></td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"
>&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;">4.00</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">10/1/2024</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">2,370,000</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">2,356,833</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414;
text-indent:-7.2pt; font-weight:normal; margin-left:7.2pt; text-decoration:none;">New Jersey Transportation
Trust Fund Authority, Revenue Bonds</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">5.00</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">6/15/2046</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">1,365,000</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">1,409,270</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal;
margin-left:7.2pt; text-decoration:none;">New Jersey Transportation Trust Fund Authority, Revenue Bonds</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">5.25</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">6/15/2043</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">1,500,000</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">1,574,013</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414;
text-indent:-7.2pt; font-weight:normal; margin-left:7.2pt; text-decoration:none;">New Jersey Transportation
Trust Fund Authority, Revenue Bonds</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">5.50</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">6/15/2050</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">2,000,000</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">2,181,807</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal;
margin-left:7.2pt; text-decoration:none;">New Jersey Turnpike Authority, Revenue Bonds, Ser. A</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">4.00</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">1/1/2048</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">2,400,000</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">2,317,309</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414;
text-indent:-7.2pt; font-weight:normal; margin-left:7.2pt; text-decoration:none;">South Jersey Port Corp.,
Revenue Bonds, Ser. B</p></td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"
>&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;">5.00</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">1/1/2042</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">2,025,000</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">2,046,416</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414;
text-indent:-7.2pt; font-weight:normal; margin-left:7.2pt; text-decoration:none;">Tender Option Bond
Trust Receipts (Series 2018-XF2538), (New Jersey Economic Development Authority, Revenue Bonds) Recourse,
Underlying Coupon Rate (%) 5.25</p></td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"
>&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;">6.64</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">6/15/2040</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">4,250,000</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:7.5pt; font-family:Cambria; text-align:left; color:#000000; font-weight:normal; text-decoration:none;
vertical-align:super;"><sup>c,e,f</sup><font style="letter-spacing:-2.0pt;font-size:2.0pt;">&nbsp;</font></p></td><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;">4,421,880</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal;
margin-left:7.2pt; text-decoration:none;">Tobacco Settlement Financing Corp., Revenue Bonds, Refunding,
Ser. A</p></td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;">5.25</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">6/1/2046</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">1,500,000</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">1,560,937</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414;
text-indent:-7.2pt; font-weight:normal; margin-left:7.2pt; text-decoration:none;">Tobacco Settlement
Financing Corp., Revenue Bonds, Refunding, Ser. B</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">5.00</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">6/1/2046</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">1,670,000</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">1,678,055</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td></tr><tr><td colspan="7" style=" vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td colspan="2" style=" vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000; font-weight:bold; text-decoration:none;">21,785,381</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td colspan="5"
style=" vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; color:#141414; text-indent:-7.2pt; font-weight:bold; margin-left:7.2pt; text-decoration:none;">New
York - 7.4% </p></td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"
>&nbsp;</td></tr><tr><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt;
font-family:Cambria; text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal; margin-left:7.2pt;
text-decoration:none;">New York Convention Center Development Corp., Revenue Bonds (Hotel Unit Fee) (Insured;
Assured Guaranty Municipal Corp.) Ser. B</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">0.00</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">11/15/2049</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">5,600,000</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria;
text-align:left; color:#000000; font-weight:normal; text-decoration:none; vertical-align:super;"><sup>g</sup><font
style="letter-spacing:-2.0pt;font-size:2.0pt;">&nbsp;</font></p></td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">1,548,252</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal;
margin-left:7.2pt; text-decoration:none;">New York Liberty Development Corp., Revenue Bonds, Refunding
(Class 1-3 World Trade Center Project)</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">5.00</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">11/15/2044</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">3,400,000</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria;
text-align:left; color:#000000; font-weight:normal; text-decoration:none; vertical-align:super;"><sup>c</sup><font
style="letter-spacing:-2.0pt;font-size:2.0pt;">&nbsp;</font></p></td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">3,338,476</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td></tr></table>
<!-- PAGEBREAK_START -->
<p style="font-size:8.0pt; font-family:Arial; text-align:center; font-weight:bold; text-decoration:none;">13</p>

<!-- Field: Rule-Page --><div style="margin: 3pt auto; width: 25%"><div style="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</div></div><!-- Field: /Rule-Page -->
<p style="page-break-before:always;"></p>

<p style="font-size:9.0pt; font-family:Arial; text-align:left; font-weight:normal; font-style:normal;"><font
style="font-size:9.0pt; font-family:Arial; font-style:italic; font-weight:normal; text-decoration:none;">STATEMENT
OF INVESTMENTS (Unaudited) (continued)</font></p>
<!-- PAGEBREAK_END -->
<table cellspacing="0" style="border-collapse:collapse" width="100%" cellpadding="0" style="clear:both"><tr
style="font-size:1pt;"><td style="width:35%;" >&nbsp;</td><td style="width:6%;" >&nbsp;</td><td style="width:9%;"
>&nbsp;</td><td style="width:1%;" >&nbsp;</td><td style="width:13.01%;" >&nbsp;</td><td style="width:1%;"
>&nbsp;</td><td style="width:15%;" >&nbsp;</td><td style="width:4%;" >&nbsp;</td><td style="width:15%;"
>&nbsp;</td><td style="width:1%;" >&nbsp;</td></tr><tr><td colspan="10" style=" vertical-align:bottom;
border-bottom:0.25pt; border-bottom-style:solid; border-bottom-color:#000000; border-top:1.5pt; border-top-style:solid;
border-top-color:#000000; background-color:#D9D9D9; font-size:1pt;">&#160;</td></tr><tr><td style="vertical-align:bottom;
border-bottom:0.5pt; border-bottom-style:solid; border-bottom-color:#000000; border-top:1pt; border-top-style:solid;
border-top-color:#F2F2F2; background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria;
text-align:left; color:#141414; font-weight:normal; text-decoration:none;">Description</p></td><td colspan="2"
style=" vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid; border-bottom-color:#000000;
border-top:1pt; border-top-style:solid; border-top-color:#F2F2F2; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; font-style:normal;"><font style="font-size:7.5pt;
font-family:Cambria; font-style:normal; color:#000000; font-weight:normal; text-decoration:none;"> Coupon
</font><br><font style="font-size:7.5pt; font-family:Cambria; font-style:normal; color:#000000; font-weight:normal;
text-decoration:none;">Rate (%)</font></p></td><td style="vertical-align:bottom; border-bottom:0.5pt;
border-bottom-style:solid; border-bottom-color:#000000; border-top:1pt; border-top-style:solid; border-top-color:#F2F2F2;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; border-bottom:0.5pt;
border-bottom-style:solid; border-bottom-color:#000000; border-top:1pt; border-top-style:solid; border-top-color:#F2F2F2;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; font-style:normal;"><font style="font-size:8.0pt; font-family:Cambria; font-style:normal;
color:#000000; font-weight:normal; text-decoration:none;">&#160;</font><font style="font-size:7.5pt; font-family:Cambria;
font-style:normal; color:#000000; font-weight:normal; text-decoration:none;">Maturity Date</font></p></td><td
style="vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid; border-bottom-color:#000000;
border-top:1pt; border-top-style:solid; border-top-color:#F2F2F2; background-color:#D9D9D9; font-size:1pt;"
>&nbsp;</td><td style="vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid; border-bottom-color:#000000;
border-top:1pt; border-top-style:solid; border-top-color:#F2F2F2; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">Principal
Amount ($)</p></td><td style="vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid;
border-bottom-color:#000000; border-top:1pt; border-top-style:solid; border-top-color:#F2F2F2; background-color:#D9D9D9;
font-size:1pt;"><p style="font-size:7.5pt; font-family:Cambria; text-align:left; color:#000000; font-weight:normal;
text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid;
border-bottom-color:#000000; border-top:1pt; border-top-style:solid; border-top-color:#F2F2F2; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; font-style:normal;"><font
style="font-size:7.5pt; font-family:Cambria; font-style:normal; color:#000000; font-weight:normal; text-decoration:none;">Value
($)</font></p></td><td style="vertical-align:top; border-bottom:0.5pt; border-bottom-style:solid; border-bottom-color:#000000;
border-top:1pt; border-top-style:solid; border-top-color:#F2F2F2; background-color:#D9D9D9; font-size:1pt;"
>&nbsp;</td></tr><tr><td colspan="5" style=" vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid;
border-bottom-color:#000000; background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria;
text-align:left; color:#141414; text-indent:-7.2pt; font-weight:bold; margin-left:7.2pt; font-style:normal;"><font
style="font-size:8.0pt; font-family:Cambria; font-style:normal; color:#141414; font-weight:bold; text-decoration:none;">Long-Term
Municipal Investments - 145.4%</font><font style="font-size:8.0pt; font-family:Cambria; font-style:normal;
color:#141414; font-weight:normal; text-decoration:none;">&#160;</font><font style="font-size:8.0pt; font-family:Cambria;
font-style:normal; color:#141414; font-weight:bold; text-decoration:none;">(continued)</font></p></td><td
style="vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid; border-bottom-color:#000000;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; border-bottom:0.5pt;
border-bottom-style:solid; border-bottom-color:#000000; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td
style="vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid; border-bottom-color:#000000;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; border-bottom:0.5pt;
border-bottom-style:solid; border-bottom-color:#000000; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td
style="vertical-align:top; border-bottom:0.5pt; border-bottom-style:solid; border-bottom-color:#000000;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td colspan="5" style=" vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414;
text-indent:-7.2pt; font-weight:bold; margin-left:7.2pt; text-decoration:none;">New York - 7.4% (continued)</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"
>&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal; margin-left:7.2pt; text-decoration:none;">New
York State Dormitory Authority, Revenue Bonds, Refunding (Montefiore Obligated Group) Ser. A</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">4.00</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">9/1/2045</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">1,000,000</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">829,618</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414;
text-indent:-7.2pt; font-weight:normal; margin-left:7.2pt; text-decoration:none;">New York Transportation
Development Corp., Revenue Bonds (JFK International Air Terminal)</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">5.00</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">12/1/2040</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">1,200,000</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">1,241,801</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal;
margin-left:7.2pt; text-decoration:none;">New York Transportation Development Corp., Revenue Bonds (JFK
International Air Terminal)</p></td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"
>&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;">5.00</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">12/1/2042</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">1,850,000</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">1,900,764</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414;
text-indent:-7.2pt; font-weight:normal; margin-left:7.2pt; text-decoration:none;">New York Transportation
Development Corp., Revenue Bonds (LaGuardia Airport Terminal B Redevelopment Project) Ser. A</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">5.25</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">1/1/2050</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">3,000,000</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">2,988,678</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414;
text-indent:-7.2pt; font-weight:normal; margin-left:7.2pt; text-decoration:none;">New York Transportation
Development Corp., Revenue Bonds, Refunding (JFK International Air Terminal) Ser. A</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">5.00</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">12/1/2035</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">1,100,000</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">1,157,584</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal;
margin-left:7.2pt; text-decoration:none;">Niagara Area Development Corp., Revenue Bonds, Refunding (Covanta
Project) Ser. A</p></td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;">4.75</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">11/1/2042</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">1,000,000</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:7.5pt; font-family:Cambria; text-align:left; color:#000000; font-weight:normal; text-decoration:none;
vertical-align:super;"><sup>c</sup><font style="letter-spacing:-2.0pt;font-size:2.0pt;">&nbsp;</font></p></td><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;">869,115</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal;
margin-left:7.2pt; text-decoration:none;">Tender Option Bond Trust Receipts (Series 2022-XM1004), (Metropolitan
Transportation Authority, Revenue Bonds, Refunding (Green Bond) (Insured; Assured Guaranty Municipal
Corp., Ser. C)) Non-recourse, Underlying Coupon Rate (%) 4.00</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">2.93</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">11/15/2047</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">5,400,000</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria;
text-align:left; color:#000000; font-weight:normal; text-decoration:none; vertical-align:super;"><sup>c,e,f</sup><font
style="letter-spacing:-2.0pt;font-size:2.0pt;">&nbsp;</font></p></td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">5,194,271</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal;
margin-left:7.2pt; text-decoration:none;">Triborough Bridge &amp; Tunnel Authority, Revenue Bonds, Refunding,
Ser. A1</p></td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;">5.00</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">5/15/2051</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">3,235,000</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">3,459,756</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414;
text-indent:-7.2pt; font-weight:normal; margin-left:7.2pt; text-decoration:none;">Westchester County
Local Development Corp., Revenue Bonds, Refunding (Purchase Senior Learning Community Obligated Group)</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">5.00</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">7/1/2046</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">1,650,000</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:7.5pt; font-family:Cambria; text-align:left; color:#000000; font-weight:normal; text-decoration:none;
vertical-align:super;"><sup>c</sup><font style="letter-spacing:-2.0pt;font-size:2.0pt;">&nbsp;</font></p></td><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;">1,296,843</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td colspan="7" style=" vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td colspan="2" style=" vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:bold; text-decoration:none;">23,825,158</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td></tr><tr><td colspan="5" style=" vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414; text-indent:-7.2pt; font-weight:bold;
margin-left:7.2pt; text-decoration:none;">North Carolina - .9% </p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"
>&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414;
text-indent:-7.2pt; font-weight:normal; margin-left:7.2pt; text-decoration:none;">North Carolina Medical
Care Commission, Revenue Bonds, Refunding (Lutheran Services for the Aging Obligated Group)</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">4.00</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">3/1/2051</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">2,000,000</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">1,374,559</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr></table>
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<p style="font-size:8.0pt; font-family:Arial; text-align:center; font-weight:bold; text-decoration:none;">14</p>

<!-- Field: Rule-Page --><div style="margin: 3pt auto; width: 25%"><div style="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</div></div><!-- Field: /Rule-Page -->
<p style="page-break-before:always;"></p>


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<table cellspacing="0" style="border-collapse:collapse" width="100%" cellpadding="0" style="clear:both"><tr
style="font-size:1pt;"><td style="width:35%;" >&nbsp;</td><td style="width:6%;" >&nbsp;</td><td style="width:9%;"
>&nbsp;</td><td style="width:1%;" >&nbsp;</td><td style="width:13.01%;" >&nbsp;</td><td style="width:1%;"
>&nbsp;</td><td style="width:15%;" >&nbsp;</td><td style="width:4%;" >&nbsp;</td><td style="width:15%;"
>&nbsp;</td><td style="width:1%;" >&nbsp;</td></tr><tr><td colspan="10" style=" vertical-align:bottom;
border-bottom:0.25pt; border-bottom-style:solid; border-bottom-color:#000000; border-top:1.5pt; border-top-style:solid;
border-top-color:#000000; background-color:#D9D9D9; font-size:1pt;">&#160;</td></tr><tr><td style="vertical-align:bottom;
border-bottom:0.5pt; border-bottom-style:solid; border-bottom-color:#000000; border-top:1pt; border-top-style:solid;
border-top-color:#F2F2F2; background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria;
text-align:left; color:#141414; font-weight:normal; text-decoration:none;">Description</p></td><td colspan="2"
style=" vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid; border-bottom-color:#000000;
border-top:1pt; border-top-style:solid; border-top-color:#F2F2F2; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; font-style:normal;"><font style="font-size:7.5pt;
font-family:Cambria; font-style:normal; color:#000000; font-weight:normal; text-decoration:none;"> Coupon
</font><br><font style="font-size:7.5pt; font-family:Cambria; font-style:normal; color:#000000; font-weight:normal;
text-decoration:none;">Rate (%)</font></p></td><td style="vertical-align:bottom; border-bottom:0.5pt;
border-bottom-style:solid; border-bottom-color:#000000; border-top:1pt; border-top-style:solid; border-top-color:#F2F2F2;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; border-bottom:0.5pt;
border-bottom-style:solid; border-bottom-color:#000000; border-top:1pt; border-top-style:solid; border-top-color:#F2F2F2;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; font-style:normal;"><font style="font-size:8.0pt; font-family:Cambria; font-style:normal;
color:#000000; font-weight:normal; text-decoration:none;">&#160;</font><font style="font-size:7.5pt; font-family:Cambria;
font-style:normal; color:#000000; font-weight:normal; text-decoration:none;">Maturity Date</font></p></td><td
style="vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid; border-bottom-color:#000000;
border-top:1pt; border-top-style:solid; border-top-color:#F2F2F2; background-color:#D9D9D9; font-size:1pt;"
>&nbsp;</td><td style="vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid; border-bottom-color:#000000;
border-top:1pt; border-top-style:solid; border-top-color:#F2F2F2; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">Principal
Amount ($)</p></td><td style="vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid;
border-bottom-color:#000000; border-top:1pt; border-top-style:solid; border-top-color:#F2F2F2; background-color:#D9D9D9;
font-size:1pt;"><p style="font-size:7.5pt; font-family:Cambria; text-align:left; color:#000000; font-weight:normal;
text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid;
border-bottom-color:#000000; border-top:1pt; border-top-style:solid; border-top-color:#F2F2F2; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; font-style:normal;"><font
style="font-size:7.5pt; font-family:Cambria; font-style:normal; color:#000000; font-weight:normal; text-decoration:none;">Value
($)</font></p></td><td style="vertical-align:top; border-bottom:0.5pt; border-bottom-style:solid; border-bottom-color:#000000;
border-top:1pt; border-top-style:solid; border-top-color:#F2F2F2; background-color:#D9D9D9; font-size:1pt;"
>&nbsp;</td></tr><tr><td colspan="5" style=" vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid;
border-bottom-color:#000000; background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria;
text-align:left; color:#141414; text-indent:-7.2pt; font-weight:bold; margin-left:7.2pt; font-style:normal;"><font
style="font-size:8.0pt; font-family:Cambria; font-style:normal; color:#141414; font-weight:bold; text-decoration:none;">Long-Term
Municipal Investments - 145.4%</font><font style="font-size:8.0pt; font-family:Cambria; font-style:normal;
color:#141414; font-weight:normal; text-decoration:none;">&#160;</font><font style="font-size:8.0pt; font-family:Cambria;
font-style:normal; color:#141414; font-weight:bold; text-decoration:none;">(continued)</font></p></td><td
style="vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid; border-bottom-color:#000000;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; border-bottom:0.5pt;
border-bottom-style:solid; border-bottom-color:#000000; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td
style="vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid; border-bottom-color:#000000;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; border-bottom:0.5pt;
border-bottom-style:solid; border-bottom-color:#000000; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td
style="vertical-align:top; border-bottom:0.5pt; border-bottom-style:solid; border-bottom-color:#000000;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td colspan="5" style=" vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414;
text-indent:-7.2pt; font-weight:bold; margin-left:7.2pt; text-decoration:none;">North Carolina - .9%
(continued)</p></td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"
>&nbsp;</td></tr><tr><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt;
font-family:Cambria; text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal; margin-left:7.2pt;
text-decoration:none;">North Carolina Turnpike Authority, Revenue Bonds (Insured; Assured Guaranty Municipal
Corp.)</p></td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;">4.00</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">1/1/2055</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">1,500,000</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">1,378,583</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td colspan="7"
style=" vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td colspan="2"
style=" vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:bold; text-decoration:none;">2,753,142</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td colspan="5" style=" vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414;
text-indent:-7.2pt; font-weight:bold; margin-left:7.2pt; text-decoration:none;">Ohio - 3.4% </p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"
>&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal; margin-left:7.2pt; text-decoration:none;">Buckeye
Tobacco Settlement Financing Authority, Revenue Bonds, Refunding, Ser. B2</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">5.00</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">6/1/2055</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">9,450,000</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">8,755,492</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal;
margin-left:7.2pt; text-decoration:none;">Centerville, Revenue Bonds, Refunding (Graceworks Lutheran
Services Obligated Group)</p></td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"
>&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;">5.25</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">11/1/2047</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">1,500,000</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">1,293,232</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414;
text-indent:-7.2pt; font-weight:normal; margin-left:7.2pt; text-decoration:none;">Cuyahoga County, Revenue
Bonds, Refunding (The MetroHealth System)</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">5.00</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">2/15/2052</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">1,000,000</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">979,617</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td></tr><tr><td colspan="7" style=" vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td colspan="2" style=" vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000; font-weight:bold; text-decoration:none;">11,028,341</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td colspan="5"
style=" vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; color:#141414; text-indent:-7.2pt; font-weight:bold; margin-left:7.2pt; text-decoration:none;">Oregon
- 1.3% </p></td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"
>&nbsp;</td></tr><tr><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt;
font-family:Cambria; text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal; margin-left:7.2pt;
text-decoration:none;">Medford Hospital Facilities Authority, Revenue Bonds, Refunding (Asante Project)
Ser. A</p></td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;">4.00</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">8/15/2039</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">1,000,000</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">947,508</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414;
text-indent:-7.2pt; font-weight:normal; margin-left:7.2pt; text-decoration:none;">Port of Portland, Revenue
Bonds, Refunding, Ser. 28</p></td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"
>&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;">4.00</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">7/1/2047</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">2,720,000</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">2,518,041</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414;
text-indent:-7.2pt; font-weight:normal; margin-left:7.2pt; text-decoration:none;">Yamhill County Hospital
Authority, Revenue Bonds, Refunding (Friendsview Manor Obligated Group) Ser. A</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">5.00</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">11/15/2056</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">1,000,000</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">718,271</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td></tr><tr><td colspan="7" style=" vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td colspan="2" style=" vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000; font-weight:bold; text-decoration:none;">4,183,820</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td colspan="5"
style=" vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; color:#141414; text-indent:-7.2pt; font-weight:bold; margin-left:7.2pt; text-decoration:none;">Pennsylvania
- 7.8% </p></td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"
>&nbsp;</td></tr><tr><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt;
font-family:Cambria; text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal; margin-left:7.2pt;
text-decoration:none;">Allentown School District, GO, Refunding (Insured; Build America Mutual) Ser.
B</p></td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;">5.00</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">2/1/2031</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">1,510,000</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">1,658,340</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414;
text-indent:-7.2pt; font-weight:normal; margin-left:7.2pt; text-decoration:none;">Crawford County Hospital
Authority, Revenue Bonds, Refunding (Meadville Medical Center Project) Ser. A</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">6.00</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">6/1/2046</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">1,000,000</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">1,017,105</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal;
margin-left:7.2pt; text-decoration:none;">Franklin County Industrial Development Authority, Revenue Bonds,
Refunding (Menno-Haven Project)</p></td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"
>&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;">5.00</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">12/1/2053</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">1,000,000</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">762,493</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414;
text-indent:-7.2pt; font-weight:normal; margin-left:7.2pt; text-decoration:none;">Pennsylvania Economic
Development Financing Authority, Revenue Bonds</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">6.00</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">6/30/2061</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">2,000,000</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">2,214,897</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal;
margin-left:7.2pt; text-decoration:none;">Pennsylvania Economic Development Financing Authority, Revenue
Bonds, Refunding</p></td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"
>&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;">4.00</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">7/1/2046</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">1,000,000</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">793,009</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414;
text-indent:-7.2pt; font-weight:normal; margin-left:7.2pt; text-decoration:none;">Pennsylvania Higher
Educational Facilities Authority, Revenue Bonds, Refunding (University of Sciences in Philadelphia)</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">5.00</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">11/1/2033</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">2,805,000</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">2,851,168</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr></table>
<!-- PAGEBREAK_START -->
<p style="font-size:8.0pt; font-family:Arial; text-align:center; font-weight:bold; text-decoration:none;">15</p>

<!-- Field: Rule-Page --><div style="margin: 3pt auto; width: 25%"><div style="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</div></div><!-- Field: /Rule-Page -->
<p style="page-break-before:always;"></p>

<p style="font-size:9.0pt; font-family:Arial; text-align:left; font-weight:normal; font-style:normal;"><font
style="font-size:9.0pt; font-family:Arial; font-style:italic; font-weight:normal; text-decoration:none;">STATEMENT
OF INVESTMENTS (Unaudited) (continued)</font></p>
<!-- PAGEBREAK_END -->
<table cellspacing="0" style="border-collapse:collapse" width="100%" cellpadding="0" style="clear:both"><tr
style="font-size:1pt;"><td style="width:35%;" >&nbsp;</td><td style="width:6%;" >&nbsp;</td><td style="width:9%;"
>&nbsp;</td><td style="width:1%;" >&nbsp;</td><td style="width:13.01%;" >&nbsp;</td><td style="width:1%;"
>&nbsp;</td><td style="width:15%;" >&nbsp;</td><td style="width:4%;" >&nbsp;</td><td style="width:15%;"
>&nbsp;</td><td style="width:1%;" >&nbsp;</td></tr><tr><td colspan="10" style=" vertical-align:bottom;
border-bottom:0.25pt; border-bottom-style:solid; border-bottom-color:#000000; border-top:1.5pt; border-top-style:solid;
border-top-color:#000000; background-color:#D9D9D9; font-size:1pt;">&#160;</td></tr><tr><td style="vertical-align:bottom;
border-bottom:0.5pt; border-bottom-style:solid; border-bottom-color:#000000; border-top:1pt; border-top-style:solid;
border-top-color:#F2F2F2; background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria;
text-align:left; color:#141414; font-weight:normal; text-decoration:none;">Description</p></td><td colspan="2"
style=" vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid; border-bottom-color:#000000;
border-top:1pt; border-top-style:solid; border-top-color:#F2F2F2; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; font-style:normal;"><font style="font-size:7.5pt;
font-family:Cambria; font-style:normal; color:#000000; font-weight:normal; text-decoration:none;"> Coupon
</font><br><font style="font-size:7.5pt; font-family:Cambria; font-style:normal; color:#000000; font-weight:normal;
text-decoration:none;">Rate (%)</font></p></td><td style="vertical-align:bottom; border-bottom:0.5pt;
border-bottom-style:solid; border-bottom-color:#000000; border-top:1pt; border-top-style:solid; border-top-color:#F2F2F2;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; border-bottom:0.5pt;
border-bottom-style:solid; border-bottom-color:#000000; border-top:1pt; border-top-style:solid; border-top-color:#F2F2F2;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; font-style:normal;"><font style="font-size:8.0pt; font-family:Cambria; font-style:normal;
color:#000000; font-weight:normal; text-decoration:none;">&#160;</font><font style="font-size:7.5pt; font-family:Cambria;
font-style:normal; color:#000000; font-weight:normal; text-decoration:none;">Maturity Date</font></p></td><td
style="vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid; border-bottom-color:#000000;
border-top:1pt; border-top-style:solid; border-top-color:#F2F2F2; background-color:#D9D9D9; font-size:1pt;"
>&nbsp;</td><td style="vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid; border-bottom-color:#000000;
border-top:1pt; border-top-style:solid; border-top-color:#F2F2F2; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">Principal
Amount ($)</p></td><td style="vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid;
border-bottom-color:#000000; border-top:1pt; border-top-style:solid; border-top-color:#F2F2F2; background-color:#D9D9D9;
font-size:1pt;"><p style="font-size:7.5pt; font-family:Cambria; text-align:left; color:#000000; font-weight:normal;
text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid;
border-bottom-color:#000000; border-top:1pt; border-top-style:solid; border-top-color:#F2F2F2; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; font-style:normal;"><font
style="font-size:7.5pt; font-family:Cambria; font-style:normal; color:#000000; font-weight:normal; text-decoration:none;">Value
($)</font></p></td><td style="vertical-align:top; border-bottom:0.5pt; border-bottom-style:solid; border-bottom-color:#000000;
border-top:1pt; border-top-style:solid; border-top-color:#F2F2F2; background-color:#D9D9D9; font-size:1pt;"
>&nbsp;</td></tr><tr><td colspan="5" style=" vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid;
border-bottom-color:#000000; background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria;
text-align:left; color:#141414; text-indent:-7.2pt; font-weight:bold; margin-left:7.2pt; font-style:normal;"><font
style="font-size:8.0pt; font-family:Cambria; font-style:normal; color:#141414; font-weight:bold; text-decoration:none;">Long-Term
Municipal Investments - 145.4%</font><font style="font-size:8.0pt; font-family:Cambria; font-style:normal;
color:#141414; font-weight:normal; text-decoration:none;">&#160;</font><font style="font-size:8.0pt; font-family:Cambria;
font-style:normal; color:#141414; font-weight:bold; text-decoration:none;">(continued)</font></p></td><td
style="vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid; border-bottom-color:#000000;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; border-bottom:0.5pt;
border-bottom-style:solid; border-bottom-color:#000000; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td
style="vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid; border-bottom-color:#000000;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; border-bottom:0.5pt;
border-bottom-style:solid; border-bottom-color:#000000; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td
style="vertical-align:top; border-bottom:0.5pt; border-bottom-style:solid; border-bottom-color:#000000;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td colspan="5" style=" vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414;
text-indent:-7.2pt; font-weight:bold; margin-left:7.2pt; text-decoration:none;">Pennsylvania - 7.8% (continued)</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"
>&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal; margin-left:7.2pt; text-decoration:none;">Pennsylvania
Turnpike Commission, Revenue Bonds, Ser. A</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">4.00</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">12/1/2050</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">1,500,000</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">1,395,173</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal;
margin-left:7.2pt; text-decoration:none;">Tender Option Bond Trust Receipts (Series 2022-XF1408), (Pennsylvania
State Turnpike Commission, Revenue Bonds, Refunding, Ser. A) Non-recourse, Underlying Coupon Rate (%)
4.00</p></td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;">3.04</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">12/1/2051</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">10,000,000</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:7.5pt; font-family:Cambria; text-align:left; color:#000000; font-weight:normal; text-decoration:none;
vertical-align:super;"><sup>c,e,f</sup><font style="letter-spacing:-2.0pt;font-size:2.0pt;">&nbsp;</font></p></td><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;">9,552,672</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal;
margin-left:7.2pt; text-decoration:none;">Tender Option Bond Trust Receipts (Series 2022-XF1525), (Pennsylvania
Economic Development Financing Authority UPMC, Revenue Bonds, Ser. A) Recourse, Underlying Coupon Rate
(%) 4.00</p></td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;">1.56</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">5/15/2053</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">3,440,000</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:7.5pt; font-family:Cambria; text-align:left; color:#000000; font-weight:normal; text-decoration:none;
vertical-align:super;"><sup>c,e,f</sup><font style="letter-spacing:-2.0pt;font-size:2.0pt;">&nbsp;</font></p></td><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;">3,166,326</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal;
margin-left:7.2pt; text-decoration:none;">The Philadelphia School District, GO (Insured; State Aid Withholding)
Ser. A</p></td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;">4.00</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">9/1/2039</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">2,000,000</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">1,913,262</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td colspan="7"
style=" vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td colspan="2"
style=" vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:bold; text-decoration:none;">25,324,445</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td colspan="5" style=" vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414;
text-indent:-7.2pt; font-weight:bold; margin-left:7.2pt; text-decoration:none;">Rhode Island - 2.0% </p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"
>&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal; margin-left:7.2pt; text-decoration:none;">Providence
Public Building Authority, Revenue Bonds (Insured; Assured Guaranty Municipal Corp.) Ser. A</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">5.00</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">9/15/2037</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">500,000</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">530,577</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414;
text-indent:-7.2pt; font-weight:normal; margin-left:7.2pt; text-decoration:none;">Tender Option Bond
Trust Receipts (Series 2023-XM1117), (Rhode Island Infrastructure Bank State Revolving Fund, Revenue
Bonds, Ser. A) Non-recourse, Underlying Coupon Rate (%) 4.25</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">0.01</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">10/1/2053</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">6,000,000</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria;
text-align:left; color:#000000; font-weight:normal; text-decoration:none; vertical-align:super;"><sup>c,e,f</sup><font
style="letter-spacing:-2.0pt;font-size:2.0pt;">&nbsp;</font></p></td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">5,798,316</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td></tr><tr><td colspan="7" style=" vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td colspan="2" style=" vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000; font-weight:bold; text-decoration:none;">6,328,893</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td colspan="5"
style=" vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; color:#141414; text-indent:-7.2pt; font-weight:bold; margin-left:7.2pt; text-decoration:none;">South
Carolina - 5.0% </p></td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"
>&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal;
margin-left:7.2pt; text-decoration:none;">South Carolina Jobs-Economic Development Authority, Revenue
Bonds (Bishop Gadsden Episcopal Retirement Community Obligated Group)</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">5.00</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">4/1/2054</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">1,000,000</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">843,033</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal;
margin-left:7.2pt; text-decoration:none;">South Carolina Jobs-Economic Development Authority, Revenue
Bonds, Refunding (Bon Secours Mercy Health)</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">4.00</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">12/1/2044</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">3,500,000</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">3,332,344</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal;
margin-left:7.2pt; text-decoration:none;">South Carolina Public Service Authority, Revenue Bonds, Ser.
A</p></td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;">4.00</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">12/1/2055</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">2,000,000</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">1,781,547</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr></table>
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<p style="font-size:8.0pt; font-family:Arial; text-align:center; font-weight:bold; text-decoration:none;">16</p>

<!-- Field: Rule-Page --><div style="margin: 3pt auto; width: 25%"><div style="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</div></div><!-- Field: /Rule-Page -->
<p style="page-break-before:always;"></p>


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<table cellspacing="0" style="border-collapse:collapse" width="100%" cellpadding="0" style="clear:both"><tr
style="font-size:1pt;"><td style="width:35%;" >&nbsp;</td><td style="width:6%;" >&nbsp;</td><td style="width:9%;"
>&nbsp;</td><td style="width:1%;" >&nbsp;</td><td style="width:13.01%;" >&nbsp;</td><td style="width:1%;"
>&nbsp;</td><td style="width:15%;" >&nbsp;</td><td style="width:4%;" >&nbsp;</td><td style="width:15%;"
>&nbsp;</td><td style="width:1%;" >&nbsp;</td></tr><tr><td colspan="10" style=" vertical-align:bottom;
border-bottom:0.25pt; border-bottom-style:solid; border-bottom-color:#000000; border-top:1.5pt; border-top-style:solid;
border-top-color:#000000; background-color:#D9D9D9; font-size:1pt;">&#160;</td></tr><tr><td style="vertical-align:bottom;
border-bottom:0.5pt; border-bottom-style:solid; border-bottom-color:#000000; border-top:1pt; border-top-style:solid;
border-top-color:#F2F2F2; background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria;
text-align:left; color:#141414; font-weight:normal; text-decoration:none;">Description</p></td><td colspan="2"
style=" vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid; border-bottom-color:#000000;
border-top:1pt; border-top-style:solid; border-top-color:#F2F2F2; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; font-style:normal;"><font style="font-size:7.5pt;
font-family:Cambria; font-style:normal; color:#000000; font-weight:normal; text-decoration:none;"> Coupon
</font><br><font style="font-size:7.5pt; font-family:Cambria; font-style:normal; color:#000000; font-weight:normal;
text-decoration:none;">Rate (%)</font></p></td><td style="vertical-align:bottom; border-bottom:0.5pt;
border-bottom-style:solid; border-bottom-color:#000000; border-top:1pt; border-top-style:solid; border-top-color:#F2F2F2;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; border-bottom:0.5pt;
border-bottom-style:solid; border-bottom-color:#000000; border-top:1pt; border-top-style:solid; border-top-color:#F2F2F2;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; font-style:normal;"><font style="font-size:8.0pt; font-family:Cambria; font-style:normal;
color:#000000; font-weight:normal; text-decoration:none;">&#160;</font><font style="font-size:7.5pt; font-family:Cambria;
font-style:normal; color:#000000; font-weight:normal; text-decoration:none;">Maturity Date</font></p></td><td
style="vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid; border-bottom-color:#000000;
border-top:1pt; border-top-style:solid; border-top-color:#F2F2F2; background-color:#D9D9D9; font-size:1pt;"
>&nbsp;</td><td style="vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid; border-bottom-color:#000000;
border-top:1pt; border-top-style:solid; border-top-color:#F2F2F2; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">Principal
Amount ($)</p></td><td style="vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid;
border-bottom-color:#000000; border-top:1pt; border-top-style:solid; border-top-color:#F2F2F2; background-color:#D9D9D9;
font-size:1pt;"><p style="font-size:7.5pt; font-family:Cambria; text-align:left; color:#000000; font-weight:normal;
text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid;
border-bottom-color:#000000; border-top:1pt; border-top-style:solid; border-top-color:#F2F2F2; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; font-style:normal;"><font
style="font-size:7.5pt; font-family:Cambria; font-style:normal; color:#000000; font-weight:normal; text-decoration:none;">Value
($)</font></p></td><td style="vertical-align:top; border-bottom:0.5pt; border-bottom-style:solid; border-bottom-color:#000000;
border-top:1pt; border-top-style:solid; border-top-color:#F2F2F2; background-color:#D9D9D9; font-size:1pt;"
>&nbsp;</td></tr><tr><td colspan="5" style=" vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid;
border-bottom-color:#000000; background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria;
text-align:left; color:#141414; text-indent:-7.2pt; font-weight:bold; margin-left:7.2pt; font-style:normal;"><font
style="font-size:8.0pt; font-family:Cambria; font-style:normal; color:#141414; font-weight:bold; text-decoration:none;">Long-Term
Municipal Investments - 145.4%</font><font style="font-size:8.0pt; font-family:Cambria; font-style:normal;
color:#141414; font-weight:normal; text-decoration:none;">&#160;</font><font style="font-size:8.0pt; font-family:Cambria;
font-style:normal; color:#141414; font-weight:bold; text-decoration:none;">(continued)</font></p></td><td
style="vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid; border-bottom-color:#000000;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; border-bottom:0.5pt;
border-bottom-style:solid; border-bottom-color:#000000; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td
style="vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid; border-bottom-color:#000000;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; border-bottom:0.5pt;
border-bottom-style:solid; border-bottom-color:#000000; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td
style="vertical-align:top; border-bottom:0.5pt; border-bottom-style:solid; border-bottom-color:#000000;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td colspan="5" style=" vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414;
text-indent:-7.2pt; font-weight:bold; margin-left:7.2pt; text-decoration:none;">South Carolina - 5.0%
(continued)</p></td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"
>&nbsp;</td></tr><tr><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt;
font-family:Cambria; text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal; margin-left:7.2pt;
text-decoration:none;">Tender Option Bond Trust Receipts (Series 2016-XM0384), (South Carolina Public
Service Authority, Revenue Bonds, Refunding (Santee Cooper)) Non-recourse, Underlying Coupon Rate (%)
5.13</p></td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;">4.94</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">12/1/2043</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">10,200,000</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:7.5pt; font-family:Cambria; text-align:left; color:#000000; font-weight:normal; text-decoration:none;
vertical-align:super;"><sup>c,e,f</sup><font style="letter-spacing:-2.0pt;font-size:2.0pt;">&nbsp;</font></p></td><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;">10,209,569</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td colspan="7" style=" vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td colspan="2" style=" vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:bold; text-decoration:none;">16,166,493</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td></tr><tr><td colspan="5" style=" vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414; text-indent:-7.2pt; font-weight:bold;
margin-left:7.2pt; text-decoration:none;">South Dakota - 1.0% </p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"
>&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414;
text-indent:-7.2pt; font-weight:normal; margin-left:7.2pt; text-decoration:none;">Tender Option Bond
Trust Receipts (Series 2022-XF1409), (South Dakota&#160;Heath &amp;&#160;Educational&#160;Facilities&#160;Authority,
Revenue Bonds, Refunding (Avera Health Obligated Group)) Non-recourse, Underlying Coupon Rate (%) 5.00</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">5.62</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">7/1/2046</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">3,200,000</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:7.5pt; font-family:Cambria; text-align:left; color:#000000; font-weight:normal; text-decoration:none;
vertical-align:super;"><sup>c,e,f</sup><font style="letter-spacing:-2.0pt;font-size:2.0pt;">&nbsp;</font></p></td><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:bold; text-decoration:none;">3,245,327</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td colspan="5" style=" vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414;
text-indent:-7.2pt; font-weight:bold; margin-left:7.2pt; text-decoration:none;">Tennessee - .9% </p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"
>&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal; margin-left:7.2pt; text-decoration:none;">Tender
Option Bond Trust Receipts (Series 2016-XM0388), (Metropolitan Government of Nashville &amp; Davidson
County, Revenue Bonds, Refunding) Non-recourse, Underlying Coupon Rate (%) 5.00</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">5.00</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">7/1/2023</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">3,000,000</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria;
text-align:left; color:#000000; font-weight:normal; text-decoration:none; vertical-align:super;"><sup>c,e,f</sup><font
style="letter-spacing:-2.0pt;font-size:2.0pt;">&nbsp;</font></p></td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:bold; text-decoration:none;">3,003,611</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td></tr><tr><td colspan="5" style=" vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414; text-indent:-7.2pt; font-weight:bold;
margin-left:7.2pt; text-decoration:none;">Texas - 8.9% </p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"
>&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal;
margin-left:7.2pt; text-decoration:none;">Arlington Higher Education Finance Corp., Revenue Bonds (Uplift
Education) (Insured; Permanent School Fund Guarantee Program) Ser. A</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">4.25</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">12/1/2048</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">1,500,000</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">1,465,334</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal;
margin-left:7.2pt; text-decoration:none;">Clifton Higher Education Finance Corp., Revenue Bonds (IDEA
Public Schools) Ser. A</p></td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"
>&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;">4.00</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">8/15/2051</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">2,000,000</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">1,722,969</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414;
text-indent:-7.2pt; font-weight:normal; margin-left:7.2pt; text-decoration:none;">Clifton Higher Education
Finance Corp., Revenue Bonds (International Leadership of Texas) Ser. A</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">5.75</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">8/15/2045</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">2,500,000</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">2,447,613</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal;
margin-left:7.2pt; text-decoration:none;">Clifton Higher Education Finance Corp., Revenue Bonds (International
Leadership of Texas) Ser. D</p></td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"
>&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;">6.13</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">8/15/2048</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">3,000,000</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">3,010,366</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414;
text-indent:-7.2pt; font-weight:normal; margin-left:7.2pt; text-decoration:none;">Clifton Higher Education
Finance Corp., Revenue Bonds (Uplift Education) Ser. A</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">4.50</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">12/1/2044</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">2,500,000</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">2,255,572</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal;
margin-left:7.2pt; text-decoration:none;">Grand Parkway Transportation Corp., Revenue Bonds, Refunding</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">4.00</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">10/1/2045</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">2,000,000</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">1,865,573</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr></table>
<!-- PAGEBREAK_START -->
<p style="font-size:8.0pt; font-family:Arial; text-align:center; font-weight:bold; text-decoration:none;">17</p>

<!-- Field: Rule-Page --><div style="margin: 3pt auto; width: 25%"><div style="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</div></div><!-- Field: /Rule-Page -->
<p style="page-break-before:always;"></p>

<p style="font-size:9.0pt; font-family:Arial; text-align:left; font-weight:normal; font-style:normal;"><font
style="font-size:9.0pt; font-family:Arial; font-style:italic; font-weight:normal; text-decoration:none;">STATEMENT
OF INVESTMENTS (Unaudited) (continued)</font></p>
<!-- PAGEBREAK_END -->
<table cellspacing="0" style="border-collapse:collapse" width="100%" cellpadding="0" style="clear:both"><tr
style="font-size:1pt;"><td style="width:35%;" >&nbsp;</td><td style="width:6%;" >&nbsp;</td><td style="width:9%;"
>&nbsp;</td><td style="width:1%;" >&nbsp;</td><td style="width:13.01%;" >&nbsp;</td><td style="width:1%;"
>&nbsp;</td><td style="width:15%;" >&nbsp;</td><td style="width:4%;" >&nbsp;</td><td style="width:15%;"
>&nbsp;</td><td style="width:1%;" >&nbsp;</td></tr><tr><td colspan="10" style=" vertical-align:bottom;
border-bottom:0.25pt; border-bottom-style:solid; border-bottom-color:#000000; border-top:1.5pt; border-top-style:solid;
border-top-color:#000000; background-color:#D9D9D9; font-size:1pt;">&#160;</td></tr><tr><td style="vertical-align:bottom;
border-bottom:0.5pt; border-bottom-style:solid; border-bottom-color:#000000; border-top:1pt; border-top-style:solid;
border-top-color:#F2F2F2; background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria;
text-align:left; color:#141414; font-weight:normal; text-decoration:none;">Description</p></td><td colspan="2"
style=" vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid; border-bottom-color:#000000;
border-top:1pt; border-top-style:solid; border-top-color:#F2F2F2; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; font-style:normal;"><font style="font-size:7.5pt;
font-family:Cambria; font-style:normal; color:#000000; font-weight:normal; text-decoration:none;"> Coupon
</font><br><font style="font-size:7.5pt; font-family:Cambria; font-style:normal; color:#000000; font-weight:normal;
text-decoration:none;">Rate (%)</font></p></td><td style="vertical-align:bottom; border-bottom:0.5pt;
border-bottom-style:solid; border-bottom-color:#000000; border-top:1pt; border-top-style:solid; border-top-color:#F2F2F2;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; border-bottom:0.5pt;
border-bottom-style:solid; border-bottom-color:#000000; border-top:1pt; border-top-style:solid; border-top-color:#F2F2F2;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; font-style:normal;"><font style="font-size:8.0pt; font-family:Cambria; font-style:normal;
color:#000000; font-weight:normal; text-decoration:none;">&#160;</font><font style="font-size:7.5pt; font-family:Cambria;
font-style:normal; color:#000000; font-weight:normal; text-decoration:none;">Maturity Date</font></p></td><td
style="vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid; border-bottom-color:#000000;
border-top:1pt; border-top-style:solid; border-top-color:#F2F2F2; background-color:#D9D9D9; font-size:1pt;"
>&nbsp;</td><td style="vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid; border-bottom-color:#000000;
border-top:1pt; border-top-style:solid; border-top-color:#F2F2F2; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">Principal
Amount ($)</p></td><td style="vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid;
border-bottom-color:#000000; border-top:1pt; border-top-style:solid; border-top-color:#F2F2F2; background-color:#D9D9D9;
font-size:1pt;"><p style="font-size:7.5pt; font-family:Cambria; text-align:left; color:#000000; font-weight:normal;
text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid;
border-bottom-color:#000000; border-top:1pt; border-top-style:solid; border-top-color:#F2F2F2; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; font-style:normal;"><font
style="font-size:7.5pt; font-family:Cambria; font-style:normal; color:#000000; font-weight:normal; text-decoration:none;">Value
($)</font></p></td><td style="vertical-align:top; border-bottom:0.5pt; border-bottom-style:solid; border-bottom-color:#000000;
border-top:1pt; border-top-style:solid; border-top-color:#F2F2F2; background-color:#D9D9D9; font-size:1pt;"
>&nbsp;</td></tr><tr><td colspan="5" style=" vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid;
border-bottom-color:#000000; background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria;
text-align:left; color:#141414; text-indent:-7.2pt; font-weight:bold; margin-left:7.2pt; font-style:normal;"><font
style="font-size:8.0pt; font-family:Cambria; font-style:normal; color:#141414; font-weight:bold; text-decoration:none;">Long-Term
Municipal Investments - 145.4%</font><font style="font-size:8.0pt; font-family:Cambria; font-style:normal;
color:#141414; font-weight:normal; text-decoration:none;">&#160;</font><font style="font-size:8.0pt; font-family:Cambria;
font-style:normal; color:#141414; font-weight:bold; text-decoration:none;">(continued)</font></p></td><td
style="vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid; border-bottom-color:#000000;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; border-bottom:0.5pt;
border-bottom-style:solid; border-bottom-color:#000000; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td
style="vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid; border-bottom-color:#000000;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; border-bottom:0.5pt;
border-bottom-style:solid; border-bottom-color:#000000; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td
style="vertical-align:top; border-bottom:0.5pt; border-bottom-style:solid; border-bottom-color:#000000;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td colspan="5" style=" vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414;
text-indent:-7.2pt; font-weight:bold; margin-left:7.2pt; text-decoration:none;">Texas - 8.9% (continued)</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"
>&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal; margin-left:7.2pt; text-decoration:none;">Harris
County-Houston Sports Authority, Revenue Bonds, Refunding (Insured; Assured Guaranty Municipal Corp.)
Ser. A</p></td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;">0.00</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">11/15/2051</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">7,500,000</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:7.5pt; font-family:Cambria; text-align:left; color:#000000; font-weight:normal; text-decoration:none;
vertical-align:super;"><sup>g</sup><font style="letter-spacing:-2.0pt;font-size:2.0pt;">&nbsp;</font></p></td><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;">1,798,453</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal;
margin-left:7.2pt; text-decoration:none;">Lamar Consolidated Independent School District, GO</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">4.00</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">2/15/2053</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">1,000,000</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">943,069</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414;
text-indent:-7.2pt; font-weight:normal; margin-left:7.2pt; text-decoration:none;">Love Field Airport
Modernization Corp., Revenue Bonds (Southwest Airlines Co. Project)</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">5.00</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">11/1/2028</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">1,000,000</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">1,000,140</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal;
margin-left:7.2pt; text-decoration:none;">Mission Economic Development Corp., Revenue Bonds, Refunding
(Natgasoline Project)</p></td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"
>&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;">4.63</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">10/1/2031</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">1,000,000</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:7.5pt; font-family:Cambria; text-align:left; color:#000000; font-weight:normal; text-decoration:none;
vertical-align:super;"><sup>c</sup><font style="letter-spacing:-2.0pt;font-size:2.0pt;">&nbsp;</font></p></td><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;">969,341</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal;
margin-left:7.2pt; text-decoration:none;">Tarrant County Cultural Education Facilities Finance Corp.,
Revenue Bonds (Baylor Scott &amp; White Health Obligated Group)</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">5.00</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">11/15/2051</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">1,500,000</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">1,574,608</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal;
margin-left:7.2pt; text-decoration:none;">Tarrant County Cultural Education Facilities Finance Corp.,
Revenue Bonds, Refunding (MRC Stevenson Oaks Project)</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">6.75</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">11/15/2051</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">1,000,000</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">900,433</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal;
margin-left:7.2pt; text-decoration:none;">Texas Private Activity Bond Surface Transportation Corp., Revenue
Bonds (Segment 3C Project)</p></td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"
>&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;">5.00</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">6/30/2058</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">6,150,000</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">6,079,498</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414;
text-indent:-7.2pt; font-weight:normal; margin-left:7.2pt; text-decoration:none;">Texas Private Activity
Bond Surface Transportation Corp., Revenue Bonds, Refunding (LBJ Infrastructure Group)</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">4.00</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">12/31/2039</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">1,345,000</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">1,251,153</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal;
margin-left:7.2pt; text-decoration:none;">Texas Private Activity Bond Surface Transportation Corp., Revenue
Bonds, Refunding (LBJ Infrastructure Group)</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">4.00</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">6/30/2039</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">1,500,000</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">1,399,107</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td></tr><tr><td colspan="7" style=" vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td colspan="2" style=" vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000; font-weight:bold; text-decoration:none;">28,683,229</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td colspan="5"
style=" vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; color:#141414; text-indent:-7.2pt; font-weight:bold; margin-left:7.2pt; text-decoration:none;">U.S.
Related - 1.5% </p></td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"
>&nbsp;</td></tr><tr><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt;
font-family:Cambria; text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal; margin-left:7.2pt;
text-decoration:none;">Puerto Rico, GO, Ser. A</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">0.00</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">7/1/2024</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">73,499</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria;
text-align:left; color:#000000; font-weight:normal; text-decoration:none; vertical-align:super;"><sup>g</sup><font
style="letter-spacing:-2.0pt;font-size:2.0pt;">&nbsp;</font></p></td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">70,071</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal;
margin-left:7.2pt; text-decoration:none;">Puerto Rico, GO, Ser. A</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">0.00</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">7/1/2033</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">284,274</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria;
text-align:left; color:#000000; font-weight:normal; text-decoration:none; vertical-align:super;"><sup>g</sup><font
style="letter-spacing:-2.0pt;font-size:2.0pt;">&nbsp;</font></p></td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">167,004</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal;
margin-left:7.2pt; text-decoration:none;">Puerto Rico, GO, Ser. A1</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">4.00</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">7/1/2037</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">170,415</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">148,314</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal;
margin-left:7.2pt; text-decoration:none;">Puerto Rico, GO, Ser. A1</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">4.00</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">7/1/2035</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">198,557</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">177,870</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal;
margin-left:7.2pt; text-decoration:none;">Puerto Rico, GO, Ser. A1</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">4.00</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">7/1/2046</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">240,964</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">194,835</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal;
margin-left:7.2pt; text-decoration:none;">Puerto Rico, GO, Ser. A1</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">4.00</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">7/1/2041</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">231,699</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">194,070</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal;
margin-left:7.2pt; text-decoration:none;">Puerto Rico, GO, Ser. A1</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">4.00</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">7/1/2033</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">220,898</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">203,236</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal;
margin-left:7.2pt; text-decoration:none;">Puerto Rico, GO, Ser. A1</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">5.25</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">7/1/2023</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">123,351</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">123,479</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal;
margin-left:7.2pt; text-decoration:none;">Puerto Rico, GO, Ser. A1</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">5.38</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">7/1/2025</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">246,018</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">251,366</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal;
margin-left:7.2pt; text-decoration:none;">Puerto Rico, GO, Ser. A1</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">5.63</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">7/1/2029</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">2,489,835</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">2,641,373</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal;
margin-left:7.2pt; text-decoration:none;">Puerto Rico, GO, Ser. A1</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">5.63</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">7/1/2027</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">243,790</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">255,102</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal;
margin-left:7.2pt; text-decoration:none;">Puerto Rico, GO, Ser. A1</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">5.75</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">7/1/2031</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">232,950</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">251,339</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td></tr><tr><td colspan="7" style=" vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td colspan="2" style=" vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000; font-weight:bold; text-decoration:none;">4,678,059</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr></table>
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<p style="font-size:8.0pt; font-family:Arial; text-align:center; font-weight:bold; text-decoration:none;">18</p>

<!-- Field: Rule-Page --><div style="margin: 3pt auto; width: 25%"><div style="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</div></div><!-- Field: /Rule-Page -->
<p style="page-break-before:always;"></p>


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<table cellspacing="0" style="border-collapse:collapse" width="100%" cellpadding="0" style="clear:both"><tr
style="font-size:1pt;"><td style="width:35%;" >&nbsp;</td><td style="width:6%;" >&nbsp;</td><td style="width:9%;"
>&nbsp;</td><td style="width:1%;" >&nbsp;</td><td style="width:13.01%;" >&nbsp;</td><td style="width:1%;"
>&nbsp;</td><td style="width:15%;" >&nbsp;</td><td style="width:4%;" >&nbsp;</td><td style="width:15%;"
>&nbsp;</td><td style="width:1%;" >&nbsp;</td></tr><tr><td colspan="10" style=" vertical-align:bottom;
border-bottom:0.25pt; border-bottom-style:solid; border-bottom-color:#000000; border-top:1.5pt; border-top-style:solid;
border-top-color:#000000; background-color:#D9D9D9; font-size:1pt;">&#160;</td></tr><tr><td style="vertical-align:bottom;
border-bottom:0.5pt; border-bottom-style:solid; border-bottom-color:#000000; border-top:1pt; border-top-style:solid;
border-top-color:#F2F2F2; background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria;
text-align:left; color:#141414; font-weight:normal; text-decoration:none;">Description</p></td><td colspan="2"
style=" vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid; border-bottom-color:#000000;
border-top:1pt; border-top-style:solid; border-top-color:#F2F2F2; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; font-style:normal;"><font style="font-size:7.5pt;
font-family:Cambria; font-style:normal; color:#000000; font-weight:normal; text-decoration:none;"> Coupon
</font><br><font style="font-size:7.5pt; font-family:Cambria; font-style:normal; color:#000000; font-weight:normal;
text-decoration:none;">Rate (%)</font></p></td><td style="vertical-align:bottom; border-bottom:0.5pt;
border-bottom-style:solid; border-bottom-color:#000000; border-top:1pt; border-top-style:solid; border-top-color:#F2F2F2;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; border-bottom:0.5pt;
border-bottom-style:solid; border-bottom-color:#000000; border-top:1pt; border-top-style:solid; border-top-color:#F2F2F2;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; font-style:normal;"><font style="font-size:8.0pt; font-family:Cambria; font-style:normal;
color:#000000; font-weight:normal; text-decoration:none;">&#160;</font><font style="font-size:7.5pt; font-family:Cambria;
font-style:normal; color:#000000; font-weight:normal; text-decoration:none;">Maturity Date</font></p></td><td
style="vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid; border-bottom-color:#000000;
border-top:1pt; border-top-style:solid; border-top-color:#F2F2F2; background-color:#D9D9D9; font-size:1pt;"
>&nbsp;</td><td style="vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid; border-bottom-color:#000000;
border-top:1pt; border-top-style:solid; border-top-color:#F2F2F2; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">Principal
Amount ($)</p></td><td style="vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid;
border-bottom-color:#000000; border-top:1pt; border-top-style:solid; border-top-color:#F2F2F2; background-color:#D9D9D9;
font-size:1pt;"><p style="font-size:7.5pt; font-family:Cambria; text-align:left; color:#000000; font-weight:normal;
text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid;
border-bottom-color:#000000; border-top:1pt; border-top-style:solid; border-top-color:#F2F2F2; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; font-style:normal;"><font
style="font-size:7.5pt; font-family:Cambria; font-style:normal; color:#000000; font-weight:normal; text-decoration:none;">Value
($)</font></p></td><td style="vertical-align:top; border-bottom:0.5pt; border-bottom-style:solid; border-bottom-color:#000000;
border-top:1pt; border-top-style:solid; border-top-color:#F2F2F2; background-color:#D9D9D9; font-size:1pt;"
>&nbsp;</td></tr><tr><td colspan="5" style=" vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid;
border-bottom-color:#000000; background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria;
text-align:left; color:#141414; text-indent:-7.2pt; font-weight:bold; margin-left:7.2pt; font-style:normal;"><font
style="font-size:8.0pt; font-family:Cambria; font-style:normal; color:#141414; font-weight:bold; text-decoration:none;">Long-Term
Municipal Investments - 145.4%</font><font style="font-size:8.0pt; font-family:Cambria; font-style:normal;
color:#141414; font-weight:normal; text-decoration:none;">&#160;</font><font style="font-size:8.0pt; font-family:Cambria;
font-style:normal; color:#141414; font-weight:bold; text-decoration:none;">(continued)</font></p></td><td
style="vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid; border-bottom-color:#000000;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; border-bottom:0.5pt;
border-bottom-style:solid; border-bottom-color:#000000; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td
style="vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid; border-bottom-color:#000000;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; border-bottom:0.5pt;
border-bottom-style:solid; border-bottom-color:#000000; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td
style="vertical-align:top; border-bottom:0.5pt; border-bottom-style:solid; border-bottom-color:#000000;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td colspan="5" style=" vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414;
text-indent:-7.2pt; font-weight:bold; margin-left:7.2pt; text-decoration:none;">Utah - 1.7% </p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"
>&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal; margin-left:7.2pt; text-decoration:none;">Salt
Lake City, Revenue Bonds, Ser. A</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">5.00</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">7/1/2048</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">2,000,000</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">2,039,362</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal;
margin-left:7.2pt; text-decoration:none;">Salt Lake City, Revenue Bonds, Ser. A</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">5.00</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">7/1/2042</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">1,565,000</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">1,596,186</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal;
margin-left:7.2pt; text-decoration:none;">Utah Infrastructure Agency, Revenue Bonds, Refunding, Ser.
A</p></td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;">5.00</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">10/15/2037</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">2,000,000</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">1,982,047</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td colspan="7"
style=" vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td colspan="2"
style=" vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:bold; text-decoration:none;">5,617,595</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td colspan="5" style=" vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414;
text-indent:-7.2pt; font-weight:bold; margin-left:7.2pt; text-decoration:none;">Virginia - 5.8% </p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"
>&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal; margin-left:7.2pt; text-decoration:none;">Henrico
County Economic Development Authority, Revenue Bonds, Refunding (Insured; Assured Guaranty Municipal
Corp.)</p></td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;">3.46</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">8/23/2027</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">3,900,000</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:7.5pt; font-family:Cambria; text-align:left; color:#000000; font-weight:normal; text-decoration:none;
vertical-align:super;"><sup>e</sup><font style="letter-spacing:-2.0pt;font-size:2.0pt;">&nbsp;</font></p></td><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;">4,351,436</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal;
margin-left:7.2pt; text-decoration:none;">Tender Option Bond Trust Receipts (Series 2018-XM0593), (Hampton
Roads Transportation Accountability Commission, Revenue Bonds) Non-recourse, Underlying Coupon Rate (%)
5.50</p></td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;">7.19</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">7/1/2057</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">7,500,000</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:7.5pt; font-family:Cambria; text-align:left; color:#000000; font-weight:normal; text-decoration:none;
vertical-align:super;"><sup>c,e,f</sup><font style="letter-spacing:-2.0pt;font-size:2.0pt;">&nbsp;</font></p></td><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;">8,360,526</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal;
margin-left:7.2pt; text-decoration:none;">Virginia College Building Authority, Revenue Bonds (Green Bond)
(Marymount University Project)</p></td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"
>&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;">5.00</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">7/1/2045</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">1,000,000</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:7.5pt; font-family:Cambria; text-align:left; color:#000000; font-weight:normal; text-decoration:none;
vertical-align:super;"><sup>c</sup><font style="letter-spacing:-2.0pt;font-size:2.0pt;">&nbsp;</font></p></td><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;">943,798</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal;
margin-left:7.2pt; text-decoration:none;">Virginia Small Business Financing Authority, Revenue Bonds
(Transform 66 P3 Project)</p></td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"
>&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;">5.00</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">12/31/2052</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">4,350,000</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">4,309,998</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414;
text-indent:-7.2pt; font-weight:normal; margin-left:7.2pt; text-decoration:none;">Virginia Small Business
Financing Authority, Revenue Bonds, Refunding (95 Express Lanes)</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">4.00</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">1/1/2048</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">1,000,000</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">864,363</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td></tr><tr><td colspan="7" style=" vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td colspan="2" style=" vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000; font-weight:bold; text-decoration:none;">18,830,121</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td colspan="5"
style=" vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; color:#141414; text-indent:-7.2pt; font-weight:bold; margin-left:7.2pt; text-decoration:none;">Washington
- 4.1% </p></td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"
>&nbsp;</td></tr><tr><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt;
font-family:Cambria; text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal; margin-left:7.2pt;
text-decoration:none;">King County School District No. 210, GO (Insured; School Bond Guaranty)</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">4.00</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">12/1/2034</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">1,000,000</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">1,027,427</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414;
text-indent:-7.2pt; font-weight:normal; margin-left:7.2pt; text-decoration:none;">Tender Option Bond
Trust Receipts (Series 2018-XM0680), (Washington Convention Center Public Facilities District, Revenue
Bonds) Non-recourse, Underlying Coupon Rate (%) 5.00</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">5.11</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">7/1/2058</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">10,000,000</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria;
text-align:left; color:#000000; font-weight:normal; text-decoration:none; vertical-align:super;"><sup>c,e,f</sup><font
style="letter-spacing:-2.0pt;font-size:2.0pt;">&nbsp;</font></p></td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">10,053,537</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal;
margin-left:7.2pt; text-decoration:none;">Washington Higher Education Facilities Authority, Revenue Bonds
(Seattle University Project)</p></td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"
>&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;">4.00</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">5/1/2050</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">1,200,000</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">1,081,272</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414;
text-indent:-7.2pt; font-weight:normal; margin-left:7.2pt; text-decoration:none;">Washington Housing
Finance Commission, Revenue Bonds, Refunding (Presbyterian Retirement Communities Northwest Obligated
Group) Ser. A</p></td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;">5.00</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">1/1/2051</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">1,465,000</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:7.5pt; font-family:Cambria; text-align:left; color:#000000; font-weight:normal; text-decoration:none;
vertical-align:super;"><sup>c</sup><font style="letter-spacing:-2.0pt;font-size:2.0pt;">&nbsp;</font></p></td><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;">1,060,486</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td colspan="7" style=" vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td colspan="2" style=" vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:bold; text-decoration:none;">13,222,722</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td></tr></table>
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<p style="font-size:8.0pt; font-family:Arial; text-align:center; font-weight:bold; text-decoration:none;">19</p>

<!-- Field: Rule-Page --><div style="margin: 3pt auto; width: 25%"><div style="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</div></div><!-- Field: /Rule-Page -->
<p style="page-break-before:always;"></p>

<p style="font-size:9.0pt; font-family:Arial; text-align:left; font-weight:normal; font-style:normal;"><font
style="font-size:9.0pt; font-family:Arial; font-style:italic; font-weight:normal; text-decoration:none;">STATEMENT
OF INVESTMENTS (Unaudited) (continued)</font></p>
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<table cellspacing="0" style="border-collapse:collapse" width="100%" cellpadding="0" style="clear:both"><tr
style="font-size:1pt;"><td style="width:35%;" >&nbsp;</td><td style="width:6%;" >&nbsp;</td><td style="width:9%;"
>&nbsp;</td><td style="width:1%;" >&nbsp;</td><td style="width:13.01%;" >&nbsp;</td><td style="width:1%;"
>&nbsp;</td><td style="width:15%;" >&nbsp;</td><td style="width:4%;" >&nbsp;</td><td style="width:15%;"
>&nbsp;</td><td style="width:1%;" >&nbsp;</td></tr><tr><td colspan="10" style=" vertical-align:bottom;
border-bottom:0.25pt; border-bottom-style:solid; border-bottom-color:#000000; border-top:1.5pt; border-top-style:solid;
border-top-color:#000000; background-color:#D9D9D9; font-size:1pt;">&#160;</td></tr><tr><td style="vertical-align:bottom;
border-bottom:0.5pt; border-bottom-style:solid; border-bottom-color:#000000; border-top:1pt; border-top-style:solid;
border-top-color:#F2F2F2; background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria;
text-align:left; color:#141414; font-weight:normal; text-decoration:none;">Description</p></td><td colspan="2"
style=" vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid; border-bottom-color:#000000;
border-top:1pt; border-top-style:solid; border-top-color:#F2F2F2; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; font-style:normal;"><font style="font-size:7.5pt;
font-family:Cambria; font-style:normal; color:#000000; font-weight:normal; text-decoration:none;"> Coupon
</font><br><font style="font-size:7.5pt; font-family:Cambria; font-style:normal; color:#000000; font-weight:normal;
text-decoration:none;">Rate (%)</font></p></td><td style="vertical-align:bottom; border-bottom:0.5pt;
border-bottom-style:solid; border-bottom-color:#000000; border-top:1pt; border-top-style:solid; border-top-color:#F2F2F2;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; border-bottom:0.5pt;
border-bottom-style:solid; border-bottom-color:#000000; border-top:1pt; border-top-style:solid; border-top-color:#F2F2F2;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; font-style:normal;"><font style="font-size:8.0pt; font-family:Cambria; font-style:normal;
color:#000000; font-weight:normal; text-decoration:none;">&#160;</font><font style="font-size:7.5pt; font-family:Cambria;
font-style:normal; color:#000000; font-weight:normal; text-decoration:none;">Maturity Date</font></p></td><td
style="vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid; border-bottom-color:#000000;
border-top:1pt; border-top-style:solid; border-top-color:#F2F2F2; background-color:#D9D9D9; font-size:1pt;"
>&nbsp;</td><td style="vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid; border-bottom-color:#000000;
border-top:1pt; border-top-style:solid; border-top-color:#F2F2F2; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">Principal
Amount ($)</p></td><td style="vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid;
border-bottom-color:#000000; border-top:1pt; border-top-style:solid; border-top-color:#F2F2F2; background-color:#D9D9D9;
font-size:1pt;"><p style="font-size:7.5pt; font-family:Cambria; text-align:left; color:#000000; font-weight:normal;
text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid;
border-bottom-color:#000000; border-top:1pt; border-top-style:solid; border-top-color:#F2F2F2; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; font-style:normal;"><font
style="font-size:7.5pt; font-family:Cambria; font-style:normal; color:#000000; font-weight:normal; text-decoration:none;">Value
($)</font></p></td><td style="vertical-align:top; border-bottom:0.5pt; border-bottom-style:solid; border-bottom-color:#000000;
border-top:1pt; border-top-style:solid; border-top-color:#F2F2F2; background-color:#D9D9D9; font-size:1pt;"
>&nbsp;</td></tr><tr><td colspan="5" style=" vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid;
border-bottom-color:#000000; background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria;
text-align:left; color:#141414; text-indent:-7.2pt; font-weight:bold; margin-left:7.2pt; font-style:normal;"><font
style="font-size:8.0pt; font-family:Cambria; font-style:normal; color:#141414; font-weight:bold; text-decoration:none;">Long-Term
Municipal Investments - 145.4%</font><font style="font-size:8.0pt; font-family:Cambria; font-style:normal;
color:#141414; font-weight:normal; text-decoration:none;">&#160;</font><font style="font-size:8.0pt; font-family:Cambria;
font-style:normal; color:#141414; font-weight:bold; text-decoration:none;">(continued)</font></p></td><td
style="vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid; border-bottom-color:#000000;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; border-bottom:0.5pt;
border-bottom-style:solid; border-bottom-color:#000000; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td
style="vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid; border-bottom-color:#000000;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; border-bottom:0.5pt;
border-bottom-style:solid; border-bottom-color:#000000; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td
style="vertical-align:top; border-bottom:0.5pt; border-bottom-style:solid; border-bottom-color:#000000;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td colspan="5" style=" vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414;
text-indent:-7.2pt; font-weight:bold; margin-left:7.2pt; text-decoration:none;">Wisconsin - 3.6% </p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"
>&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal; margin-left:7.2pt; text-decoration:none;">Public
Finance Authority, Revenue Bonds (CHF - Wilmington) (Insured; Assured Guaranty Municipal Corp.)</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">5.00</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">7/1/2058</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">3,665,000</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">3,764,206</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414;
text-indent:-7.2pt; font-weight:normal; margin-left:7.2pt; text-decoration:none;">Public Finance Authority,
Revenue Bonds (EMU Campus Living) (Insured; Build America Mutual) Ser. A1</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">5.50</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">7/1/2052</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">1,500,000</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">1,631,022</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal;
margin-left:7.2pt; text-decoration:none;">Public Finance Authority, Revenue Bonds (EMU Campus Living)
(Insured; Build America Mutual) Ser. A1</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">5.63</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">7/1/2055</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">1,650,000</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">1,796,185</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal;
margin-left:7.2pt; text-decoration:none;">Public Finance Authority, Revenue Bonds (Gannon University
Project)</p></td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;">5.00</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">5/1/2042</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">750,000</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">724,212</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414;
text-indent:-7.2pt; font-weight:normal; margin-left:7.2pt; text-decoration:none;">Public Finance Authority,
Revenue Bonds, Refunding (Mary's Woods at Marylhurst Project)</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">5.25</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">5/15/2042</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">750,000</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria;
text-align:left; color:#000000; font-weight:normal; text-decoration:none; vertical-align:super;"><sup>c</sup><font
style="letter-spacing:-2.0pt;font-size:2.0pt;">&nbsp;</font></p></td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">677,370</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal;
margin-left:7.2pt; text-decoration:none;">Public Finance Authority, Revenue Bonds, Ser. A</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">5.00</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">10/1/2052</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">1,000,000</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">1,034,147</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414;
text-indent:-7.2pt; font-weight:normal; margin-left:7.2pt; text-decoration:none;">Wisconsin Health &amp;
Educational Facilities Authority, Revenue Bonds (Bellin Memorial Hospital Obligated Group)</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">5.50</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">12/1/2052</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">1,000,000</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">1,080,928</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414;
text-indent:-7.2pt; font-weight:normal; margin-left:7.2pt; text-decoration:none;">Wisconsin Health &amp;
Educational Facilities Authority, Revenue Bonds, Refunding (St. Camillus Health System Obligated Group)</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">5.00</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">11/1/2046</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">1,250,000</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">1,002,169</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td colspan="7"
style=" vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td colspan="2"
style=" vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:bold; text-decoration:none;">11,710,239</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td colspan="5" style=" vertical-align:bottom;
border-bottom:0.25pt; border-bottom-style:solid; border-bottom-color:#000000; background-color:#D9D9D9;"><p
style="font-size:7.5pt; font-family:Cambria; text-align:left; color:#141414; text-indent:-7.2pt; font-weight:bold;
margin-left:7.2pt; font-style:normal;"><font style="font-size:7.5pt; font-family:Cambria; font-style:normal;
color:#141414; font-weight:bold; text-decoration:none;">Total</font><font style="font-size:8.0pt; font-family:Cambria;
font-style:normal; color:#000000; font-weight:bold; text-decoration:none;">&#160;</font><font style="font-size:7.5pt;
font-family:Cambria; font-style:normal; color:#141414; font-weight:bold; text-decoration:none;">Long-Term
Municipal Investments</font><br><font style="font-size:7.5pt; font-family:Cambria; font-style:normal;
color:#141414; font-weight:normal; text-decoration:none;"> (cost $487,699,577)</font></p></td><td style="vertical-align:bottom;
border-bottom:0.25pt; border-bottom-style:solid; border-bottom-color:#000000; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td colspan="3" style=" vertical-align:bottom; border-bottom:0.25pt; border-bottom-style:solid;
border-bottom-color:#000000; background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:bold; text-decoration:none;">469,978,936</p></td><td style="vertical-align:bottom;
border-bottom:0.25pt; border-bottom-style:solid; border-bottom-color:#000000; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td></tr><tr><td colspan="5" style=" vertical-align:bottom; border-top:1pt; border-top-style:solid;
border-top-color:#F2F2F2; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; color:#141414; text-indent:-7.2pt; font-weight:bold; margin-left:7.2pt; font-style:normal;"><font
style="font-size:8.0pt; font-family:Cambria; font-style:normal; color:#141414; font-weight:bold; text-decoration:none;">Total
Investments </font><font style="font-size:8.0pt; font-family:Cambria; font-style:normal; color:#141414;
font-weight:normal; text-decoration:none;">(cost $489,035,439)</font></p></td><td style="vertical-align:bottom;
border-top:1pt; border-top-style:solid; border-top-color:#F2F2F2; background-color:#D9D9D9; font-size:1pt;"
>&nbsp;</td><td style="vertical-align:bottom; border-top:1pt; border-top-style:solid; border-top-color:#F2F2F2;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#141414;
font-weight:bold; text-decoration:none;">145.7%</p></td><td colspan="2" style=" vertical-align:bottom;
border-top:1pt; border-top-style:solid; border-top-color:#F2F2F2; background-color:#D9D9D9;"><p style="font-size:8.0pt;
font-family:Cambria; text-align:right; color:#141414; font-weight:bold; text-decoration:none;">471,091,657</p></td><td
style="vertical-align:bottom; border-top:1pt; border-top-style:solid; border-top-color:#F2F2F2; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td></tr><tr><td colspan="5" style=" vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414; text-indent:-7.2pt; font-weight:bold;
margin-left:7.2pt; text-decoration:none;">Liabilities, Less Cash and Receivables</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#141414; font-weight:bold; text-decoration:none;">(30.5%)</p></td><td
colspan="2" style=" vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:right; color:#141414; font-weight:bold; text-decoration:none;">(98,440,820)</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td colspan="5" style=" vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414;
text-indent:-7.2pt; font-weight:bold; margin-left:7.2pt; text-decoration:none;">Preferred Stock, at redemption
value</p></td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:right; color:#141414; font-weight:bold; text-decoration:none;">(15.2%)</p></td><td colspan="2"
style=" vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:right; color:#141414; font-weight:bold; text-decoration:none;">(49,300,000)</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td colspan="5" style=" vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414;
text-indent:-7.2pt; font-weight:bold; margin-left:7.2pt; text-decoration:none;">Net Assets Applicable
to Common Stockholders</p></td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"
>&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:right; color:#141414; font-weight:bold; text-decoration:none;">100.0%</p></td><td colspan="2"
style=" vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:right; color:#141414; font-weight:bold; text-decoration:none;">323,350,837</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr></table><p style="font-size:8.0pt; font-family:Serif;
text-align:left; text-indent:-10.8pt; font-weight:normal; margin-left:10.8pt; font-style:italic;"><font
style="font-size:8.0pt; font-family:Serif; font-style:italic; font-weight:normal; text-decoration:none;"><sup>a</sup></font><font
style="word-spacing:6.4pt;">&#160;</font><font style="font-size:8.0pt; font-family:Serif; font-style:italic;
font-weight:normal; text-decoration:none;">These securities have a put feature; the date shown represents
the put date and the bond holder can take a specific action to retain the bond after the put date.</font></p><p
style="font-size:8.0pt; font-family:Serif; text-align:left; text-indent:-10.8pt; font-weight:normal;
margin-left:10.8pt; font-style:italic;"><font style="font-size:8.0pt; font-family:Serif; font-style:italic;
font-weight:normal; text-decoration:none;"><sup>b</sup></font><font style="word-spacing:6.4pt;">&#160;</font><font
style="font-size:8.0pt; font-family:Serif; font-style:italic; font-weight:normal; text-decoration:none;">Zero
coupon until a specified date at which time the stated coupon rate becomes effective until maturity.</font></p><p
style="font-size:8.0pt; font-family:Serif; text-align:left; text-indent:-10.8pt; font-weight:normal;
margin-left:10.8pt; font-style:italic;"><font style="font-size:8.0pt; font-family:Serif; font-style:italic;
font-weight:normal; text-decoration:none;"><sup>c</sup></font><font style="word-spacing:6.4pt;">&#160;</font><font
style="font-size:8.0pt; font-family:Serif; font-style:italic; font-weight:normal; text-decoration:none;">Security
exempt from registration pursuant to Rule 144A under the Securities Act of 1933. These securities may
be resold in transactions exempt from registration, normally to qualified institutional buyers. At May
31, 2023, these securities were valued at $175,339,718 or 54.23% of net assets.</font></p><p style="font-size:8.0pt;
font-family:Serif; text-align:left; text-indent:-10.8pt; font-weight:normal; margin-left:10.8pt; font-style:italic;"><font
style="font-size:8.0pt; font-family:Serif; font-style:italic; font-weight:normal; text-decoration:none;"><sup>d</sup></font><font
style="word-spacing:6.4pt;">&#160;</font><font style="font-size:8.0pt; font-family:Serif; font-style:italic;
font-weight:normal; text-decoration:none;">Non-income producing&#8212;security in default.</font></p><p style="font-size:8.0pt;
font-family:Serif; text-align:left; text-indent:-10.8pt; font-weight:normal; margin-left:10.8pt; font-style:italic;"><font
style="font-size:8.0pt; font-family:Serif; font-style:italic; font-weight:normal; text-decoration:none;"><sup>e</sup></font><font
style="word-spacing:6.4pt;">&#160;</font><font style="font-size:8.0pt; font-family:Serif; font-style:italic;
font-weight:normal; text-decoration:none;">The Variable Rate is determined by the Remarketing Agent in
its sole discretion based on prevailing market conditions and may, but need not, be established by reference
to one or more financial indices.</font></p><p style="font-size:8.0pt; font-family:Serif; text-align:left;
text-indent:-10.8pt; font-weight:normal; margin-left:10.8pt; font-style:italic;"><font style="font-size:8.0pt;
font-family:Serif; font-style:italic; font-weight:normal; text-decoration:none;"><sup>f</sup></font><font
style="word-spacing:6.4pt;">&#160;</font><font style="font-size:8.0pt; font-family:Serif; font-style:italic;
font-weight:normal; text-decoration:none;">Collateral for floating rate borrowings. The coupon rate given
represents the current interest rate for the inverse floating rate security.</font></p><p style="font-size:8.0pt;
font-family:Serif; text-align:left; text-indent:-10.8pt; font-weight:normal; margin-left:10.8pt; font-style:italic;"><font
style="font-size:8.0pt; font-family:Serif; font-style:italic; font-weight:normal; text-decoration:none;"><sup>g</sup></font><font
style="word-spacing:6.4pt;">&#160;</font><font style="font-size:8.0pt; font-family:Serif; font-style:italic;
font-weight:normal; text-decoration:none;">Security issued with a zero coupon. Income is recognized through
the accretion of discount.</font></p>
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<p style="font-size:8.0pt; font-family:Arial; text-align:center; font-weight:bold; text-decoration:none;">20</p>

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<table cellspacing="0" style="border-collapse:collapse" width="100%" cellpadding="0" style="clear:both"><tr
style="font-size:1pt;"><td style="width:75%;" >&nbsp;</td><td style="width:25%;" >&nbsp;</td></tr><tr><td
style="vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid; border-bottom-color:#000000;
border-top:1.5pt; border-top-style:solid; border-top-color:#000000; background-color:#D9D9D9;"><p style="font-size:8.0pt;
font-family:Cambria; text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal; margin-left:7.2pt;
font-style:normal;"><font style="font-size:8.0pt; font-family:Cambria; font-style:normal; color:#141414;
font-weight:normal; text-decoration:none;">Portfolio Summary (Unaudited) </font><font style="font-size:8.0pt;
font-family:Cambria; font-style:normal; color:#141414; font-weight:normal; text-decoration:none;"><sup>&#8224;</sup></font></p></td><td
style="vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid; border-bottom-color:#000000;
border-top:1.5pt; border-top-style:solid; border-top-color:#000000; background-color:#D9D9D9;"><p style="font-size:8.0pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">Value
(%)</p></td></tr><tr><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt;
font-family:Cambria; text-align:left; color:#141414; font-weight:normal; text-decoration:none;">General</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;">25.7</p></td></tr><tr><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; color:#141414; font-weight:normal; text-decoration:none;">Medical</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">18.8</p></td></tr><tr><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414; font-weight:normal; text-decoration:none;">Transportation</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;">18.1</p></td></tr><tr><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; color:#141414; font-weight:normal; text-decoration:none;">Education</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">13.6</p></td></tr><tr><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414; font-weight:normal; text-decoration:none;">Water</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;">12.7</p></td></tr><tr><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; color:#141414; font-weight:normal; text-decoration:none;">Nursing Homes</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;">11.4</p></td></tr><tr><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; color:#141414; font-weight:normal; text-decoration:none;">Airport</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">9.8</p></td></tr><tr><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414; font-weight:normal; text-decoration:none;">General
Obligation</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">6.8</p></td></tr><tr><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; color:#141414; font-weight:normal; text-decoration:none;">Development</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">6.5</p></td></tr><tr><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414; font-weight:normal; text-decoration:none;">Power</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;">6.5</p></td></tr><tr><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; color:#141414; font-weight:normal; text-decoration:none;">Tobacco Settlement</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;">5.1</p></td></tr><tr><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; color:#141414; font-weight:normal; text-decoration:none;">School District</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;">4.1</p></td></tr><tr><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; color:#141414; font-weight:normal; text-decoration:none;">Housing</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">2.2</p></td></tr><tr><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414; font-weight:normal; text-decoration:none;">Facilities</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;">1.8</p></td></tr><tr><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; color:#141414; font-weight:normal; text-decoration:none;">Multifamily Housing</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;">1.0</p></td></tr><tr><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; color:#141414; font-weight:normal; text-decoration:none;">Single Family Housing</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;">.9</p></td></tr><tr><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414;
font-weight:normal; text-decoration:none;">Student Loan</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">.7</p></td></tr><tr><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#141414;
font-weight:bold; text-decoration:none;">145.7</p></td></tr></table><p style="font-size:8.0pt; font-family:Serif;
text-align:left; text-indent:-10.8pt; font-weight:normal; margin-left:10.8pt; font-style:italic;"><font
style="font-size:8.0pt; font-family:Serif; font-style:italic; font-weight:normal; text-decoration:none;"><sup>&#8224;</sup></font><font
style="word-spacing:6.4pt;">&#160;</font><font style="font-size:8.0pt; font-family:Serif; font-style:italic;
font-weight:normal; text-decoration:none;">Based on net assets.</font></p><p style="font-size:8.0pt;
font-family:Serif; text-align:left; text-indent:-10.8pt; font-weight:normal; margin-left:10.8pt; text-decoration:none;
font-style:italic;">See notes to financial statements.</p>
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<p style="font-size:8.0pt; font-family:Arial; text-align:center; font-weight:bold; text-decoration:none;">21</p>

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<table cellspacing="0" style="border-collapse:collapse" width="100%" cellpadding="2" style="clear:both"><tr
style="font-size:1pt;"><td style="width:13.82%;" >&nbsp;</td><td style="width:33.71%;" >&nbsp;</td><td
style="width:13.79%;" >&nbsp;</td><td style="width:38.68%;" >&nbsp;</td></tr><tr><td colspan="4" style="
vertical-align:top; border-top:1.5pt; border-top-style:solid; border-top-color:#000000; background-color:#D9D9D9;
font-size:1pt;">&#160;</td></tr><tr><td colspan="4" style=" vertical-align:top; background-color:#D9D9D9;"><p
style="font-size:10.0pt; font-family:Arial; text-align:left; font-weight:bold; font-style:normal;"><font
style="font-size:10.0pt; font-family:Arial; font-style:normal; font-weight:bold; text-decoration:none;">Summary
of Abbreviations </font><font style="font-size:10.0pt; font-family:Arial; font-style:normal; font-weight:normal;
text-decoration:none;">(Unaudited)</font></p></td></tr><tr><td colspan="4" style=" vertical-align:top;
background-color:#D9D9D9; font-size:1pt;">&#160;</td></tr><tr><td style="vertical-align:top; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; font-weight:bold; text-decoration:none;">ABAG</p></td><td
style="vertical-align:top; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; text-indent:-7.2pt; font-weight:normal; margin-left:7.2pt; text-decoration:none;">Association
of Bay Area Governments</p></td><td style="vertical-align:top; background-color:#D9D9D9;"><p style="font-size:8.0pt;
font-family:Cambria; text-align:left; font-weight:bold; text-decoration:none;">AGC</p></td><td style="vertical-align:top;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; text-indent:-7.2pt;
font-weight:normal; margin-left:7.2pt; text-decoration:none;">ACE Guaranty Corporation</p></td></tr><tr><td
style="vertical-align:top; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; font-weight:bold; text-decoration:none;">AGIC</p></td><td style="vertical-align:top;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; text-indent:-7.2pt;
font-weight:normal; margin-left:7.2pt; text-decoration:none;">Asset Guaranty Insurance Company</p></td><td
style="vertical-align:top; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; font-weight:bold; text-decoration:none;">AMBAC</p></td><td style="vertical-align:top;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; text-indent:-7.2pt;
font-weight:normal; margin-left:7.2pt; text-decoration:none;">American Municipal Bond Assurance Corporation</p></td></tr><tr><td
style="vertical-align:top; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; font-weight:bold; text-decoration:none;">BAN</p></td><td style="vertical-align:top;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; text-indent:-7.2pt;
font-weight:normal; margin-left:7.2pt; text-decoration:none;">Bond Anticipation Notes</p></td><td style="vertical-align:top;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; font-weight:bold;
text-decoration:none;">BSBY</p></td><td style="vertical-align:top; background-color:#D9D9D9;"><p style="font-size:8.0pt;
font-family:Cambria; text-align:left; text-indent:-7.2pt; font-weight:normal; margin-left:7.2pt; text-decoration:none;">Bloomberg
Short-Term Bank Yield Index</p></td></tr><tr><td style="vertical-align:top; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; font-weight:bold; text-decoration:none;">CIFG</p></td><td
style="vertical-align:top; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; text-indent:-7.2pt; font-weight:normal; margin-left:7.2pt; text-decoration:none;">CDC
Ixis Financial Guaranty</p></td><td style="vertical-align:top; background-color:#D9D9D9;"><p style="font-size:8.0pt;
font-family:Cambria; text-align:left; font-weight:bold; text-decoration:none;">COP</p></td><td style="vertical-align:top;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; text-indent:-7.2pt;
font-weight:normal; margin-left:7.2pt; text-decoration:none;">Certificate of Participation</p></td></tr><tr><td
style="vertical-align:top; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; font-weight:bold; text-decoration:none;">CP</p></td><td style="vertical-align:top; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; text-indent:-7.2pt; font-weight:normal;
margin-left:7.2pt; text-decoration:none;">Commercial Paper</p></td><td style="vertical-align:top; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; font-weight:bold; text-decoration:none;">DRIVERS</p></td><td
style="vertical-align:top; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; text-indent:-7.2pt; font-weight:normal; margin-left:7.2pt; text-decoration:none;">Derivative
Inverse Tax-Exempt Receipts</p></td></tr><tr><td style="vertical-align:top; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; font-weight:bold; text-decoration:none;">EFFR</p></td><td
style="vertical-align:top; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; text-indent:-7.2pt; font-weight:normal; margin-left:7.2pt; text-decoration:none;">Effective
Federal Funds Rate</p></td><td style="vertical-align:top; background-color:#D9D9D9;"><p style="font-size:8.0pt;
font-family:Cambria; text-align:left; font-weight:bold; text-decoration:none;">FGIC</p></td><td style="vertical-align:top;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; text-indent:-7.2pt;
font-weight:normal; margin-left:7.2pt; text-decoration:none;">Financial Guaranty Insurance Company</p></td></tr><tr><td
style="vertical-align:top; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; font-weight:bold; text-decoration:none;">FHA</p></td><td style="vertical-align:top;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; text-indent:-7.2pt;
font-weight:normal; margin-left:7.2pt; text-decoration:none;">Federal Housing Administration</p></td><td
style="vertical-align:top; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; font-weight:bold; text-decoration:none;">FHLB</p></td><td style="vertical-align:top;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; text-indent:-7.2pt;
font-weight:normal; margin-left:7.2pt; text-decoration:none;">Federal Home Loan Bank</p></td></tr><tr><td
style="vertical-align:top; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; font-weight:bold; text-decoration:none;">FHLMC</p></td><td style="vertical-align:top;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; text-indent:-7.2pt;
font-weight:normal; margin-left:7.2pt; text-decoration:none;">Federal Home Loan Mortgage Corporation</p></td><td
style="vertical-align:top; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; font-weight:bold; text-decoration:none;">FNMA</p></td><td style="vertical-align:top;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; text-indent:-7.2pt;
font-weight:normal; margin-left:7.2pt; text-decoration:none;">Federal National Mortgage Association</p></td></tr><tr><td
style="vertical-align:top; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; font-weight:bold; text-decoration:none;">GAN</p></td><td style="vertical-align:top;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; text-indent:-7.2pt;
font-weight:normal; margin-left:7.2pt; text-decoration:none;">Grant Anticipation Notes</p></td><td style="vertical-align:top;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; font-weight:bold;
text-decoration:none;">GIC</p></td><td style="vertical-align:top; background-color:#D9D9D9;"><p style="font-size:8.0pt;
font-family:Cambria; text-align:left; text-indent:-7.2pt; font-weight:normal; margin-left:7.2pt; text-decoration:none;">Guaranteed
Investment Contract</p></td></tr><tr><td style="vertical-align:top; background-color:#D9D9D9;"><p style="font-size:8.0pt;
font-family:Cambria; text-align:left; font-weight:bold; text-decoration:none;">GNMA</p></td><td style="vertical-align:top;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; text-indent:-7.2pt;
font-weight:normal; margin-left:7.2pt; text-decoration:none;">Government National Mortgage Association</p></td><td
style="vertical-align:top; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; font-weight:bold; text-decoration:none;">GO</p></td><td style="vertical-align:top; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; text-indent:-7.2pt; font-weight:normal;
margin-left:7.2pt; text-decoration:none;">General Obligation</p></td></tr><tr><td style="vertical-align:top;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; font-weight:bold;
text-decoration:none;">IDC</p></td><td style="vertical-align:top; background-color:#D9D9D9;"><p style="font-size:8.0pt;
font-family:Cambria; text-align:left; text-indent:-7.2pt; font-weight:normal; margin-left:7.2pt; text-decoration:none;">Industrial
Development Corporation</p></td><td style="vertical-align:top; background-color:#D9D9D9;"><p style="font-size:8.0pt;
font-family:Cambria; text-align:left; font-weight:bold; text-decoration:none;">LIBOR</p></td><td style="vertical-align:top;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; text-indent:-7.2pt;
font-weight:normal; margin-left:7.2pt; text-decoration:none;">London Interbank Offered Rate</p></td></tr><tr><td
style="vertical-align:top; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; font-weight:bold; text-decoration:none;">LOC</p></td><td style="vertical-align:top;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; text-indent:-7.2pt;
font-weight:normal; margin-left:7.2pt; text-decoration:none;">Letter of Credit</p></td><td style="vertical-align:top;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; font-weight:bold;
text-decoration:none;">LR</p></td><td style="vertical-align:top; background-color:#D9D9D9;"><p style="font-size:8.0pt;
font-family:Cambria; text-align:left; text-indent:-7.2pt; font-weight:normal; margin-left:7.2pt; text-decoration:none;">Lease
Revenue</p></td></tr><tr><td style="vertical-align:top; background-color:#D9D9D9;"><p style="font-size:8.0pt;
font-family:Cambria; text-align:left; font-weight:bold; text-decoration:none;">NAN</p></td><td style="vertical-align:top;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; text-indent:-7.2pt;
font-weight:normal; margin-left:7.2pt; text-decoration:none;">Note Anticipation Notes</p></td><td style="vertical-align:top;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; font-weight:bold;
text-decoration:none;">MFHR</p></td><td style="vertical-align:top; background-color:#D9D9D9;"><p style="font-size:8.0pt;
font-family:Cambria; text-align:left; text-indent:-7.2pt; font-weight:normal; margin-left:7.2pt; text-decoration:none;">Multi-Family
Housing Revenue</p></td></tr><tr><td style="vertical-align:top; background-color:#D9D9D9;"><p style="font-size:8.0pt;
font-family:Cambria; text-align:left; font-weight:bold; text-decoration:none;">MFMR</p></td><td style="vertical-align:top;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; text-indent:-7.2pt;
font-weight:normal; margin-left:7.2pt; text-decoration:none;">Multi-Family Mortgage Revenue</p></td><td
style="vertical-align:top; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; font-weight:bold; text-decoration:none;">MUNIPSA</p></td><td style="vertical-align:top;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; text-indent:-7.2pt;
font-weight:normal; margin-left:7.2pt; text-decoration:none;">Securities Industry and Financial Markets
Association Municipal Swap Index Yield</p></td></tr><tr><td style="vertical-align:top; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; font-weight:bold; text-decoration:none;">OBFR</p></td><td
style="vertical-align:top; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; text-indent:-7.2pt; font-weight:normal; margin-left:7.2pt; text-decoration:none;">Overnight
Bank Funding Rate</p></td><td style="vertical-align:top; background-color:#D9D9D9;"><p style="font-size:8.0pt;
font-family:Cambria; text-align:left; font-weight:bold; text-decoration:none;">PILOT</p></td><td style="vertical-align:top;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; text-indent:-7.2pt;
font-weight:normal; margin-left:7.2pt; text-decoration:none;">Payment in Lieu of Taxes</p></td></tr><tr><td
style="vertical-align:top; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; font-weight:bold; text-decoration:none;">PRIME</p></td><td style="vertical-align:top;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; text-indent:-7.2pt;
font-weight:normal; margin-left:7.2pt; text-decoration:none;">Prime Lending Rate</p></td><td style="vertical-align:top;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; font-weight:bold;
text-decoration:none;">PUTTERS</p></td><td style="vertical-align:top; background-color:#D9D9D9;"><p style="font-size:8.0pt;
font-family:Cambria; text-align:left; text-indent:-7.2pt; font-weight:normal; margin-left:7.2pt; text-decoration:none;">Puttable
Tax-Exempt Receipts</p></td></tr><tr><td style="vertical-align:top; background-color:#D9D9D9;"><p style="font-size:8.0pt;
font-family:Cambria; text-align:left; font-weight:bold; text-decoration:none;">RAC</p></td><td style="vertical-align:top;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; text-indent:-7.2pt;
font-weight:normal; margin-left:7.2pt; text-decoration:none;">Revenue Anticipation Certificates</p></td><td
style="vertical-align:top; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; font-weight:bold; text-decoration:none;">RAN</p></td><td style="vertical-align:top;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; text-indent:-7.2pt;
font-weight:normal; margin-left:7.2pt; text-decoration:none;">Revenue Anticipation Notes</p></td></tr><tr><td
style="vertical-align:top; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; font-weight:bold; text-decoration:none;">RIB</p></td><td style="vertical-align:top;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; text-indent:-7.2pt;
font-weight:normal; margin-left:7.2pt; text-decoration:none;">Residual Interest Bonds</p></td><td style="vertical-align:top;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; font-weight:bold;
text-decoration:none;">SFHR</p></td><td style="vertical-align:top; background-color:#D9D9D9;"><p style="font-size:8.0pt;
font-family:Cambria; text-align:left; text-indent:-7.2pt; font-weight:normal; margin-left:7.2pt; text-decoration:none;">Single
Family Housing Revenue</p></td></tr><tr><td style="vertical-align:top; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; font-weight:bold; text-decoration:none;">SFMR</p></td><td
style="vertical-align:top; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; text-indent:-7.2pt; font-weight:normal; margin-left:7.2pt; text-decoration:none;">Single
Family Mortgage Revenue</p></td><td style="vertical-align:top; background-color:#D9D9D9;"><p style="font-size:8.0pt;
font-family:Cambria; text-align:left; font-weight:bold; text-decoration:none;">SOFR</p></td><td style="vertical-align:top;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; text-indent:-7.2pt;
font-weight:normal; margin-left:7.2pt; text-decoration:none;">Secured Overnight Financing Rate</p></td></tr><tr><td
style="vertical-align:top; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; font-weight:bold; text-decoration:none;">TAN</p></td><td style="vertical-align:top;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; text-indent:-7.2pt;
font-weight:normal; margin-left:7.2pt; text-decoration:none;">Tax Anticipation Notes</p></td><td style="vertical-align:top;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; font-weight:bold;
text-decoration:none;">TRAN</p></td><td style="vertical-align:top; background-color:#D9D9D9;"><p style="font-size:8.0pt;
font-family:Cambria; text-align:left; text-indent:-7.2pt; font-weight:normal; margin-left:7.2pt; text-decoration:none;">Tax
and Revenue Anticipation Notes</p></td></tr><tr><td style="vertical-align:top; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; font-weight:bold; text-decoration:none;">U.S.
T-BILL</p></td><td style="vertical-align:top; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; text-indent:-7.2pt; font-weight:normal; margin-left:7.2pt; text-decoration:none;">U.S.
Treasury Bill Money Market Yield</p></td><td style="vertical-align:top; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; font-weight:bold; text-decoration:none;">XLCA</p></td><td
style="vertical-align:top; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; text-indent:-7.2pt; font-weight:normal; margin-left:7.2pt; text-decoration:none;">XL
Capital Assurance</p></td></tr><tr><td style="vertical-align:top; background-color:#D9D9D9; font-size:1pt;">&#160;</td><td
style="vertical-align:top; background-color:#D9D9D9; font-size:1pt;">&#160;</td><td style="vertical-align:top;
background-color:#D9D9D9; font-size:1pt;">&#160;</td><td style="vertical-align:top; background-color:#D9D9D9;
font-size:1pt;">&#160;</td></tr></table><p style="font-size:8.0pt; font-family:Serif; text-align:left; text-indent:-10.8pt;
font-weight:normal; margin-left:10.8pt; text-decoration:none; font-style:italic;">See notes to financial
statements.</p>
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<p style="font-size:8.0pt; font-family:Arial; text-align:center; font-weight:bold; text-decoration:none;">22</p>

<!-- Field: Rule-Page --><div style="margin: 3pt auto; width: 25%"><div style="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</div></div><!-- Field: /Rule-Page -->
<p style="page-break-before:always;"></p>

<p style="font-size:11.5pt; font-family:Arial; text-align:left; font-weight:normal; text-decoration:none;">STATEMENT
OF ASSETS AND LIABILITIES</p><p style="font-size:9.0pt; font-family:Arial; text-align:left; font-weight:normal;
text-decoration:none;">May 31, 2023 (Unaudited)</p>
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<p style="font-size:9.0pt; font-family:Arial; text-align:left; font-weight:normal; font-style:normal;"><font
style="font-size:4.0pt; font-family:Arial; font-style:normal; font-weight:normal; text-decoration:none;">
</font><a name="3"></a><font style="font-size:9.0pt; font-family:Arial; font-style:normal; font-weight:normal;
text-decoration:none;"> </font></p><table cellspacing="0" style="border-collapse:collapse" width="100%"
cellpadding="0" style="clear:both"><tr style="font-size:1pt;"><td style="width:56.77%;" >&nbsp;</td><td
style="width:1.55%;" >&nbsp;</td><td style="width:.86%;" >&nbsp;</td><td style="width:15.53%;" >&nbsp;</td><td
style="width:1.73%;" >&nbsp;</td><td style="width:22%;" >&nbsp;</td><td style="width:1.55%;" >&nbsp;</td></tr><tr><td
style="vertical-align:bottom; border-top:1.5pt; border-top-style:solid; border-top-color:#000000; background-color:#D9D9D9;
font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:center; font-weight:bold;
text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom; border-top:1.5pt; border-top-style:solid;
border-top-color:#000000; background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:center; font-weight:bold; text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom;
border-top:1.5pt; border-top-style:solid; border-top-color:#000000; background-color:#D9D9D9; font-size:1pt;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:center; font-weight:bold; text-decoration:none;">&#160;</p></td><td
style="vertical-align:bottom; border-top:1.5pt; border-top-style:solid; border-top-color:#000000; background-color:#D9D9D9;
font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal;
text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom; border-top:1.5pt; border-top-style:solid;
border-top-color:#000000; background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom;
border-top:1.5pt; border-top-style:solid; border-top-color:#000000; background-color:#D9D9D9; font-size:1pt;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td
style="vertical-align:bottom; border-top:1.5pt; border-top-style:solid; border-top-color:#000000; background-color:#D9D9D9;
font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal;
text-decoration:none;">&#160;</p></td></tr><tr><td style="vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid;
border-bottom-color:#000000; background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:center; font-weight:bold; text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom;
border-bottom:0.5pt; border-bottom-style:solid; border-bottom-color:#000000; background-color:#D9D9D9;
font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:center; font-weight:bold;
text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid;
border-bottom-color:#000000; background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:center; font-weight:bold; text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom;
border-bottom:0.5pt; border-bottom-style:solid; border-bottom-color:#000000; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">Cost</p></td><td
style="vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid; border-bottom-color:#000000;
background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right;
color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom;
border-bottom:0.5pt; border-bottom-style:solid; border-bottom-color:#000000; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">Value</p></td><td
style="vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid; border-bottom-color:#000000;
background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right;
color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td></tr><tr><td colspan="3" style="
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font-weight:bold; text-decoration:none;">Assets ($): </p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; font-weight:normal;
text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; font-weight:normal; text-decoration:none;">&#160;</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:right; font-weight:bold; text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right;
font-weight:bold; text-decoration:none;">&#160;</p></td></tr><tr><td colspan="3" style=" vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#000000;
font-weight:normal; text-decoration:none;">Investments in securities&#8212;See Statement of Investments</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;"> 489,035,439 </p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;"> 471,091,657 </p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal;
text-decoration:none;">&#160;</p></td></tr><tr><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#000000; font-weight:normal; text-decoration:none;">Cash</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left;
color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right;
color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right;
color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;"> 146,601 </p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal;
text-decoration:none;">&#160;</p></td></tr><tr><td colspan="4" style=" vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#000000; font-weight:normal; text-decoration:none;">Interest
receivable</p></td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt;
font-family:Cambria; text-align:left; color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;"> 7,218,827 </p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right;
color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td></tr><tr><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#000000;
font-weight:normal; text-decoration:none;">Prepaid expenses</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left;
color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left;
color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right;
color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left;
color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;"> 49,312 </p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal;
text-decoration:none;">&#160;</p></td></tr><tr><td style="vertical-align:bottom; border-bottom:1pt; border-bottom-style:solid;
border-bottom-color:#F2F2F2; background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom;
border-bottom:1pt; border-bottom-style:solid; border-bottom-color:#F2F2F2; background-color:#D9D9D9;
font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#000000; font-weight:normal;
text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom; border-bottom:1pt; border-bottom-style:solid;
border-bottom-color:#F2F2F2; background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom;
border-bottom:1pt; border-bottom-style:solid; border-bottom-color:#F2F2F2; background-color:#D9D9D9;
font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal;
text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom; border-bottom:1pt; border-bottom-style:solid;
border-bottom-color:#F2F2F2; background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom;
border-bottom:1pt; border-bottom-style:solid; border-bottom-color:#F2F2F2; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000; font-weight:bold; text-decoration:none;">
478,506,397 </p></td><td style="vertical-align:bottom; border-bottom:1pt; border-bottom-style:solid;
border-bottom-color:#F2F2F2; background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:bold; text-decoration:none;">&#160;</p></td></tr><tr><td colspan="3"
style=" vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; font-weight:bold; text-decoration:none;">Liabilities ($):</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left;
color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left;
color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right;
color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left;
color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td></tr><tr><td colspan="4" style="
vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left;
color:#000000; font-weight:normal; text-decoration:none;">Due to BNY Mellon Investment Adviser, Inc.
and affiliates&#8212;Note 2(b)</p></td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;"> 207,478 </p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right;
color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td></tr><tr><td colspan="4" style="
vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left;
color:#000000; font-weight:normal; text-decoration:none;">Payable for inverse floater notes issued&#8212;Note
3</p></td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;"> 102,715,000 </p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td></tr><tr><td colspan="4"
style=" vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; color:#000000; font-weight:normal; text-decoration:none;">Payable for investment securities
purchased  </p></td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;"> 1,666,328 </p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right;
color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td></tr><tr><td colspan="4" style="
vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left;
color:#000000; font-weight:normal; font-style:normal;"><font style="font-size:8.0pt; font-family:Cambria;
font-style:normal; color:#000000; font-weight:normal; text-decoration:none;">Interest and expense payable
related to </font><br><font style="font-size:8.0pt; font-family:Cambria; font-style:normal; color:#000000;
font-weight:normal; text-decoration:none;">     inverse floater notes issued&#8212;Note 3</font></p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;"> 1,075,744 </p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal;
text-decoration:none;">&#160;</p></td></tr><tr><td colspan="4" style=" vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#000000; font-weight:normal; text-decoration:none;">Directors&#8217;
fees and expenses payable</p></td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;"> 32,205 </p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right;
color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td></tr><tr><td colspan="4" style="
vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left;
color:#000000; font-weight:normal; text-decoration:none;">Dividends payable to Preferred Stockholders</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;"> 27,641 </p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal;
text-decoration:none;">&#160;</p></td></tr><tr><td colspan="4" style=" vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#000000; font-weight:normal; text-decoration:none;">Commissions
payable&#8212;Note 1</p></td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;"> 18,000 </p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right;
color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td></tr><tr><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#000000;
font-weight:normal; text-decoration:none;">Other accrued expenses</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left;
color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left;
color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right;
color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right;
color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;"> 113,164 </p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal;
text-decoration:none;">&#160;</p></td></tr><tr><td style="vertical-align:bottom; border-bottom:1pt; border-bottom-style:solid;
border-bottom-color:#F2F2F2; background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom;
border-bottom:1pt; border-bottom-style:solid; border-bottom-color:#F2F2F2; background-color:#D9D9D9;
font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#000000; font-weight:normal;
text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom; border-bottom:1pt; border-bottom-style:solid;
border-bottom-color:#F2F2F2; background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom;
border-bottom:1pt; border-bottom-style:solid; border-bottom-color:#F2F2F2; background-color:#D9D9D9;
font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal;
text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom; border-bottom:1pt; border-bottom-style:solid;
border-bottom-color:#F2F2F2; background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom;
border-bottom:1pt; border-bottom-style:solid; border-bottom-color:#F2F2F2; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000; font-weight:bold; text-decoration:none;">
105,855,560 </p></td><td style="vertical-align:bottom; border-bottom:1pt; border-bottom-style:solid;
border-bottom-color:#F2F2F2; background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:bold; text-decoration:none;">&#160;</p></td></tr><tr><td colspan="4"
style=" vertical-align:bottom; border-bottom:1pt; border-bottom-style:solid; border-bottom-color:#F2F2F2;
border-top:1pt; border-top-style:solid; border-top-color:#F2F2F2; background-color:#D9D9D9;"><p style="font-size:8.0pt;
font-family:Cambria; text-align:left; font-weight:bold; font-style:normal;"><font style="font-size:8.0pt;
font-family:Cambria; font-style:normal; font-weight:bold; text-decoration:none;">Auction Preferred Stock,
Series A, B and C, par value $.001 per share </font><br><font style="font-size:8.0pt; font-family:Cambria;
font-style:normal; font-weight:bold; text-decoration:none;">    (1,972  shares issued and outstanding
at $25,000 per share  </font><br><font style="font-size:8.0pt; font-family:Cambria; font-style:normal;
font-weight:bold; text-decoration:none;">    liquidation value)&#8212;Note 1</font></p></td><td style="vertical-align:bottom;
border-bottom:1pt; border-bottom-style:solid; border-bottom-color:#F2F2F2; background-color:#D9D9D9;
font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal;
text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom; border-bottom:1pt; border-bottom-style:solid;
border-bottom-color:#F2F2F2; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:bold; text-decoration:none;"> 49,300,000 </p></td><td style="vertical-align:bottom;
border-bottom:1pt; border-bottom-style:solid; border-bottom-color:#F2F2F2; background-color:#D9D9D9;
font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000; font-weight:bold;
text-decoration:none;">&#160;</p></td></tr><tr><td colspan="3" style=" vertical-align:bottom; border-bottom:1pt;
border-bottom-style:solid; border-bottom-color:#F2F2F2; border-top:1pt; border-top-style:solid; border-top-color:#F2F2F2;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; font-weight:bold;
text-decoration:none;">Net Assets Applicable to Common Stockholders ($)</p></td><td style="vertical-align:bottom;
border-bottom:1pt; border-bottom-style:solid; border-bottom-color:#F2F2F2; background-color:#D9D9D9;
font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal;
text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom; border-bottom:1pt; border-bottom-style:solid;
border-bottom-color:#F2F2F2; background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom;
border-bottom:1pt; border-bottom-style:solid; border-bottom-color:#F2F2F2; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000; font-weight:bold; text-decoration:none;">
323,350,837 </p></td><td style="vertical-align:bottom; border-bottom:1pt; border-bottom-style:solid;
border-bottom-color:#F2F2F2; background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:bold; text-decoration:none;">&#160;</p></td></tr><tr><td colspan="3"
style=" vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; font-weight:bold; text-decoration:none;">Composition of Net Assets ($):</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right;
color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right;
color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right;
color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td></tr><tr><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; font-weight:normal;
font-style:normal;"><font style="font-size:8.0pt; font-family:Cambria; font-style:normal; font-weight:normal;
text-decoration:none;">Common Stock, par value, $.001 per share </font><br><font style="font-size:8.0pt;
font-family:Cambria; font-style:normal; font-weight:normal; text-decoration:none;">      (49,428,691
shares issued and outstanding)</font></p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; font-weight:bold; text-decoration:none;">&#160;</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; font-weight:bold; text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right;
color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right;
color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;"> 49,429 </p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal;
text-decoration:none;">&#160;</p></td></tr><tr><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#000000; font-weight:normal; text-decoration:none;">Paid-in
capital </p></td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt;
font-family:Cambria; text-align:left; color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right;
color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right;
color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;"> 368,386,722 </p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal;
text-decoration:none;">&#160;</p></td></tr><tr><td style="vertical-align:bottom; border-bottom:0.25pt; border-bottom-style:solid;
border-bottom-color:#000000; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; color:#000000; font-weight:normal; text-decoration:none;">Total distributable earnings
(loss)</p></td><td style="vertical-align:bottom; border-bottom:0.25pt; border-bottom-style:solid; border-bottom-color:#000000;
background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left;
color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom;
border-bottom:0.25pt; border-bottom-style:solid; border-bottom-color:#000000; background-color:#D9D9D9;
font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#000000; font-weight:normal;
text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom; border-bottom:0.25pt; border-bottom-style:solid;
border-bottom-color:#000000; background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom;
border-bottom:0.25pt; border-bottom-style:solid; border-bottom-color:#000000; background-color:#D9D9D9;
font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal;
text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom; border-bottom:0.25pt; border-bottom-style:solid;
border-bottom-color:#000000; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;"> (45,085,314)</p></td><td
style="vertical-align:bottom; border-bottom:0.25pt; border-bottom-style:solid; border-bottom-color:#000000;
background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right;
color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td></tr><tr><td colspan="3" style="
vertical-align:bottom; border-top:1pt; border-top-style:solid; border-top-color:#F2F2F2; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; font-weight:bold; text-decoration:none;">Net
Assets Applicable to Common Stockholders ($)</p></td><td style="vertical-align:bottom; border-top:1pt;
border-top-style:solid; border-top-color:#F2F2F2; background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td
style="vertical-align:bottom; border-top:1pt; border-top-style:solid; border-top-color:#F2F2F2; background-color:#D9D9D9;
font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal;
text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom; border-top:1pt; border-top-style:solid;
border-top-color:#F2F2F2; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:bold; text-decoration:none;"> 323,350,837 </p></td><td style="vertical-align:bottom;
border-top:1pt; border-top-style:solid; border-top-color:#F2F2F2; background-color:#D9D9D9; font-size:1pt;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000; font-weight:bold; text-decoration:none;">&#160;</p></td></tr></table><table
cellspacing="0" style="border-collapse:collapse" width="100%" cellpadding="0" style="clear:both"><tr
style="font-size:1pt;"><td style="width:75.02%;" >&nbsp;</td><td style="width:3.04%;" >&nbsp;</td><td
style="width:1.73%;" >&nbsp;</td><td style="width:18.56%;" >&nbsp;</td><td style="width:1.65%;" >&nbsp;</td></tr><tr><td
colspan="2" style=" vertical-align:bottom; border-top:1pt; border-top-style:solid; border-top-color:#F2F2F2;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#000000;
font-weight:bold; text-decoration:none;">Shares Outstanding</p></td><td style="vertical-align:bottom;
border-top:1pt; border-top-style:solid; border-top-color:#F2F2F2; background-color:#D9D9D9; font-size:1pt;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#000000; font-weight:bold; text-decoration:none;">&#160;</p></td><td
colspan="2" style=" vertical-align:bottom; border-top:1pt; border-top-style:solid; border-top-color:#F2F2F2;
background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left;
color:#000000; font-weight:bold; text-decoration:none;">&#160;</p></td></tr><tr><td colspan="3" style=" vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#000000;
font-weight:normal; text-decoration:none;">(110 million shares authorized)</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;"> 49,428,691 </p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal;
text-decoration:none;">&#160;</p></td></tr><tr><td colspan="2" style=" vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#000000; font-weight:bold; text-decoration:none;">Net
Asset Value Per Share of Common Stock ($)</p></td><td style="vertical-align:middle; background-color:#D9D9D9;
font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#000000; font-weight:bold;
text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:bold; text-decoration:none;">6.54</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:bold; text-decoration:none;">&#160;</p></td></tr><tr><td style="vertical-align:bottom;
font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#000000; font-weight:normal;
text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom; font-size:1pt;"><p style="font-size:8.0pt;
font-family:Cambria; text-align:left; color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td
style="vertical-align:bottom; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left;
color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom;
font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal;
text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom; font-size:1pt;"><p style="font-size:8.0pt;
font-family:Cambria; text-align:left; color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td></tr><tr><td
style="vertical-align:top;"><p style="font-size:8.0pt; font-family:Serif; text-align:left; color:#000000;
font-weight:normal; text-decoration:none; font-style:italic;">See notes to financial statements.</p></td><td
style="vertical-align:top; font-size:1pt;"><p style="font-size:8.0pt; font-family:Serif; text-align:left;
color:#000000; font-weight:normal; text-decoration:none; vertical-align:super; font-style:italic;"><sup>&#160;</sup></p></td><td
style="vertical-align:top; font-size:1pt;"><p style="font-size:8.0pt; font-family:Serif; text-align:left;
color:#000000; font-weight:normal; text-decoration:none; vertical-align:super; font-style:italic;"><sup>&#160;</sup></p></td><td
style="vertical-align:bottom; font-size:1pt;"><p style="font-size:8.0pt; font-family:Serif; text-align:right;
color:#000000; font-weight:normal; text-decoration:none; vertical-align:super; font-style:italic;"><sup>&#160;</sup><font
style="letter-spacing:-2.0pt;font-size:2.0pt;">&nbsp;</font></p></td><td style="vertical-align:bottom;
font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#000000; font-weight:normal;
text-decoration:none;">&#160;</p></td></tr></table>
<!-- PAGEBREAK_START -->
<p style="font-size:8.0pt; font-family:Arial; text-align:center; font-weight:bold; text-decoration:none;">23</p>

<!-- Field: Rule-Page --><div style="margin: 3pt auto; width: 25%"><div style="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</div></div><!-- Field: /Rule-Page -->
<p style="page-break-before:always;"></p>

<p style="font-size:11.5pt; font-family:Arial; text-align:left; font-weight:normal; text-decoration:none;">STATEMENT
OF OPERATIONS</p><p style="font-size:9.0pt; font-family:Arial; text-align:left; font-weight:normal; text-decoration:none;">Six
Months Ended May 31, 2023 (Unaudited)</p>
<!-- PAGEBREAK_END -->
<p style="font-size:9.0pt; font-family:Arial; text-align:left; font-weight:normal; font-style:normal;"><font
style="font-size:4.0pt; font-family:Arial; font-style:normal; font-weight:normal; text-decoration:none;">
</font><a name="4"></a><font style="font-size:9.0pt; font-family:Arial; font-style:normal; font-weight:normal;
text-decoration:none;"> </font></p><table cellspacing="0" style="border-collapse:collapse" width="100%"
cellpadding="0" style="clear:both"><tr style="font-size:1pt;"><td style="width:2.64%;" >&nbsp;</td><td
style="width:45.6%;" >&nbsp;</td><td style="width:14.56%;" >&nbsp;</td><td style="width:1.8%;" >&nbsp;</td><td
style="width:6.91%;" >&nbsp;</td><td style="width:26.69%;" >&nbsp;</td><td style="width:1.8%;" >&nbsp;</td></tr><tr><td
style="vertical-align:bottom; border-bottom:0.25pt; border-bottom-style:solid; border-bottom-color:#000000;
font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#969696; font-weight:normal;
text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom; border-bottom:0.25pt; border-bottom-style:solid;
border-bottom-color:#000000; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left;
color:#969696; font-weight:normal; text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom;
border-bottom:0.25pt; border-bottom-style:solid; border-bottom-color:#000000; font-size:1pt;"><p style="font-size:8.0pt;
font-family:Cambria; text-align:left; color:#969696; font-weight:normal; text-decoration:none;">&#160;</p></td><td
style="vertical-align:bottom; border-bottom:0.25pt; border-bottom-style:solid; border-bottom-color:#000000;
font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#969696; font-weight:normal;
text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom; border-bottom:0.25pt; border-bottom-style:solid;
border-bottom-color:#000000; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:center;
color:#969696; font-weight:normal; text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom;
border-bottom:0.25pt; border-bottom-style:solid; border-bottom-color:#000000; font-size:1pt;"><p style="font-size:8.0pt;
font-family:Cambria; text-align:left; color:#969696; font-weight:normal; text-decoration:none;">&#160;</p></td><td
style="vertical-align:bottom; border-bottom:0.25pt; border-bottom-style:solid; border-bottom-color:#000000;
font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#969696; font-weight:normal;
text-decoration:none;">&#160;</p></td></tr><tr><td style="vertical-align:bottom; border-top:1.5pt; border-top-style:solid;
border-top-color:#000000; background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; color:#969696; font-weight:normal; text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom;
border-top:1.5pt; border-top-style:solid; border-top-color:#000000; background-color:#D9D9D9; font-size:1pt;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#969696; font-weight:normal; text-decoration:none;">&#160;</p></td><td
style="vertical-align:bottom; border-top:1.5pt; border-top-style:solid; border-top-color:#000000; background-color:#D9D9D9;
font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#969696; font-weight:normal;
text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom; border-top:1.5pt; border-top-style:solid;
border-top-color:#000000; background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; color:#969696; font-weight:normal; text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom;
border-top:1.5pt; border-top-style:solid; border-top-color:#000000; background-color:#D9D9D9; font-size:1pt;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:center; color:#969696; font-weight:normal; text-decoration:none;">&#160;</p></td><td
style="vertical-align:bottom; border-top:1.5pt; border-top-style:solid; border-top-color:#000000; background-color:#D9D9D9;
font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#969696; font-weight:normal;
text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom; border-top:1.5pt; border-top-style:solid;
border-top-color:#000000; background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; color:#969696; font-weight:normal; text-decoration:none;">&#160;</p></td></tr><tr><td style="vertical-align:bottom;
border-bottom:0.5pt; border-bottom-style:solid; border-bottom-color:#000000; background-color:#D9D9D9;
font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#969696; font-weight:normal;
text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid;
border-bottom-color:#000000; background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; color:#969696; font-weight:normal; text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom;
border-bottom:0.5pt; border-bottom-style:solid; border-bottom-color:#000000; background-color:#D9D9D9;
font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#969696; font-weight:normal;
text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid;
border-bottom-color:#000000; background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; color:#969696; font-weight:normal; text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom;
border-bottom:0.5pt; border-bottom-style:solid; border-bottom-color:#000000; background-color:#D9D9D9;
font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:center; color:#969696; font-weight:normal;
text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid;
border-bottom-color:#000000; background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; color:#969696; font-weight:normal; text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom;
border-bottom:0.5pt; border-bottom-style:solid; border-bottom-color:#000000; background-color:#D9D9D9;
font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#969696; font-weight:normal;
text-decoration:none;">&#160;</p></td></tr><tr><td colspan="3" style=" vertical-align:bottom; border-top:0.5pt;
border-top-style:solid; border-top-color:#000000; background-color:#D9D9D9;"><p style="font-size:8.0pt;
font-family:Cambria; text-align:left; font-weight:bold; text-decoration:none;">Investment Income ($):</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; font-weight:bold; text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left;
font-weight:bold; text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:center; color:#969696; font-weight:normal;
text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td></tr><tr><td
colspan="3" style=" vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; font-weight:bold; text-decoration:none;">Interest Income</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left;
font-weight:bold; text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; font-weight:bold; text-decoration:none;">&#160;</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:bold; text-decoration:none;"> 10,005,526 </p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left;
color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td></tr><tr><td colspan="3" style="
vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left;
font-weight:bold; text-decoration:none;">Expenses:</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; font-weight:bold; text-decoration:none;">&#160;</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; font-weight:bold; text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left;
font-weight:bold; text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#000000; font-weight:normal;
text-decoration:none;">&#160;</p></td></tr><tr><td colspan="3" style=" vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#000000; font-weight:normal; text-decoration:none;">Management
fee&#8212;Note 2(a)</p></td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;"> 940,694 </p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#000000; font-weight:normal;
text-decoration:none;">&#160;</p></td></tr><tr><td colspan="3" style=" vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#000000; font-weight:normal; font-style:normal;"><font
style="font-size:8.0pt; font-family:Cambria; font-style:normal; color:#000000; font-weight:normal; text-decoration:none;">Interest
and expense related to inverse </font><br><font style="font-size:8.0pt; font-family:Cambria; font-style:normal;
color:#000000; font-weight:normal; text-decoration:none;">   floater notes issued&#8212;Note 3</font></p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left;
color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;"> 1,828,420 </p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#000000; font-weight:normal;
text-decoration:none;">&#160;</p></td></tr><tr><td colspan="3" style=" vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#000000; font-weight:normal; text-decoration:none;">Administration
fee&#8212;Note 2(a)</p></td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;"> 470,347 </p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#000000; font-weight:normal;
text-decoration:none;">&#160;</p></td></tr><tr><td colspan="3" style=" vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#000000; font-weight:normal; text-decoration:none;">Professional
fees</p></td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt;
font-family:Cambria; text-align:left; color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;"> 62,114 </p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#000000; font-weight:normal;
text-decoration:none;">&#160;</p></td></tr><tr><td colspan="3" style=" vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#000000; font-weight:normal; text-decoration:none;">Commission
fees&#8212;Note 1</p></td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;"> 50,928 </p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#000000; font-weight:normal;
text-decoration:none;">&#160;</p></td></tr><tr><td colspan="3" style=" vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#000000; font-weight:normal; text-decoration:none;">Directors&#8217;
fees and expenses&#8212;Note 2(c)</p></td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;"> 35,590 </p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#000000; font-weight:normal;
text-decoration:none;">&#160;</p></td></tr><tr><td colspan="3" style=" vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#000000; font-weight:normal; text-decoration:none;">Prospectus
and shareholders&#8217; reports</p></td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;"> 24,445 </p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#000000; font-weight:normal;
text-decoration:none;">&#160;</p></td></tr><tr><td colspan="3" style=" vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#000000; font-weight:normal; text-decoration:none;">Registration
fees</p></td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt;
font-family:Cambria; text-align:left; color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;"> 16,052 </p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#000000; font-weight:normal;
text-decoration:none;">&#160;</p></td></tr><tr><td colspan="3" style=" vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#000000; font-weight:normal; text-decoration:none;">Chief
Compliance Officer fees&#8212;Note 2(b)</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#000000; font-weight:normal;
text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;"> 7,224 </p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left;
color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td></tr><tr><td colspan="3" style="
vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left;
color:#000000; font-weight:normal; text-decoration:none;">Shareholder servicing costs</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left;
color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left;
color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;"> 5,874 </p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#000000; font-weight:normal;
text-decoration:none;">&#160;</p></td></tr><tr><td colspan="3" style=" vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#000000; font-weight:normal; text-decoration:none;">Custodian
fees&#8212;Note 2(b)</p></td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;"> 3,341 </p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#000000; font-weight:normal;
text-decoration:none;">&#160;</p></td></tr><tr><td colspan="3" style=" vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#000000; font-weight:normal; text-decoration:none;">Miscellaneous</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left;
color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;"> 18,468 </p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#000000; font-weight:normal;
text-decoration:none;">&#160;</p></td></tr><tr><td colspan="3" style=" vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; font-weight:bold; text-decoration:none;">Total
Expenses</p></td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt;
font-family:Cambria; text-align:left; font-weight:bold; text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left;
font-weight:bold; text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000; font-weight:bold; text-decoration:none;">
3,463,497 </p></td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt;
font-family:Cambria; text-align:left; color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td></tr><tr><td
colspan="3" style=" vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; color:#000000; font-weight:normal; text-decoration:none;">Less&#8212;reduction in expenses
due to undertaking&#8212;Note 2(a)</p></td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; font-weight:bold; text-decoration:none;">&#160;</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; font-weight:bold; text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;"> (188,139)</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#000000; font-weight:normal;
text-decoration:none;">&#160;</p></td></tr><tr><td colspan="3" style=" vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#000000; font-weight:normal; text-decoration:none;">Less&#8212;reduction
in fees due to earnings credits&#8212;Note 2(b)</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#000000; font-weight:normal;
text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;"> (3,341)</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left;
color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td></tr><tr><td colspan="3" style="
vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left;
font-weight:bold; text-decoration:none;">Net Expenses</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#000000; font-weight:normal;
text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:bold; text-decoration:none;"> 3,272,017 </p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left;
color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td></tr><tr><td colspan="3" style="
vertical-align:bottom; border-bottom:1pt; border-bottom-style:solid; border-bottom-color:#F2F2F2; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; font-weight:bold; text-decoration:none;">Net
Investment Income</p></td><td style="vertical-align:bottom; border-bottom:1pt; border-bottom-style:solid;
border-bottom-color:#F2F2F2; background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom;
border-bottom:1pt; border-bottom-style:solid; border-bottom-color:#F2F2F2; background-color:#D9D9D9;
font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#000000; font-weight:normal;
text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom; border-bottom:1pt; border-bottom-style:solid;
border-bottom-color:#F2F2F2; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:bold; text-decoration:none;"> 6,733,509 </p></td><td style="vertical-align:bottom;
border-bottom:1pt; border-bottom-style:solid; border-bottom-color:#F2F2F2; background-color:#D9D9D9;
font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#000000; font-weight:normal;
text-decoration:none;">&#160;</p></td></tr><tr><td colspan="5" style=" vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; font-weight:bold; text-decoration:none;">Realized
and Unrealized Gain (Loss) on Investments&#8212;Note 3 ($):</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; font-weight:bold; text-decoration:none;">&#160;</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td></tr><tr><td colspan="5"
style=" vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; color:#000000; font-weight:normal; text-decoration:none;">Net realized gain (loss) on
investments</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;"> (6,603,286)</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td></tr><tr><td colspan="5"
style=" vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; color:#000000; font-weight:normal; text-decoration:none;">Net change in unrealized appreciation
(depreciation) on investments</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">
6,428,512 </p></td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt;
font-family:Cambria; text-align:left; color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td></tr><tr><td
colspan="3" style=" vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; font-weight:bold; text-decoration:none;">Net Realized and Unrealized Gain (Loss) on
Investments</p></td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt;
font-family:Cambria; text-align:left; font-weight:bold; text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left;
color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:bold; text-decoration:none;"> (174,774)</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#000000; font-weight:normal;
text-decoration:none;">&#160;</p></td></tr><tr><td colspan="3" style=" vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; font-weight:bold; text-decoration:none;">Dividends
to Preferred Stockholders</p></td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; font-weight:bold; text-decoration:none;">&#160;</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:bold; text-decoration:none;"> (1,346,511)</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#000000; font-weight:normal;
text-decoration:none;">&#160;</p></td></tr><tr><td colspan="4" style=" vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; font-weight:bold; font-style:normal;"><font
style="font-size:8.0pt; font-family:Cambria; font-style:normal; font-weight:bold; text-decoration:none;">Net
Increase in Net Assets Applicable to Common </font><br><font style="font-size:8.0pt; font-family:Cambria;
font-style:normal; font-weight:bold; text-decoration:none;">      Stockholders Resulting from Operations</font></p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:bold; text-decoration:none;"> 5,212,224 </p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#000000; font-weight:normal;
text-decoration:none;">&#160;</p></td></tr><tr><td style="vertical-align:bottom; font-size:1pt;"><p style="font-size:8.0pt;
font-family:Cambria; text-align:left; color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td
style="vertical-align:bottom; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left;
color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom;
font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#000000; font-weight:normal;
text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom; font-size:1pt;"><p style="font-size:8.0pt;
font-family:Cambria; text-align:left; color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td
style="vertical-align:bottom; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left;
color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom;
font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#000000; font-weight:normal;
text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom; font-size:1pt;"><p style="font-size:8.0pt;
font-family:Cambria; text-align:left; color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td></tr><tr><td
colspan="2" style=" vertical-align:top;"><p style="font-size:8.0pt; font-family:Serif; text-align:left;
color:#000000; font-weight:normal; text-decoration:none; font-style:italic;">See notes to financial statements.</p></td><td
style="vertical-align:bottom; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; font-size:1pt;"
>&nbsp;</td><td style="vertical-align:bottom; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; font-size:1pt;" >&nbsp;</td></tr></table>
<!-- PAGEBREAK_START -->
<p style="font-size:8.0pt; font-family:Arial; text-align:center; font-weight:bold; text-decoration:none;">24</p>

<!-- Field: Rule-Page --><div style="margin: 3pt auto; width: 25%"><div style="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</div></div><!-- Field: /Rule-Page -->
<p style="page-break-before:always;"></p>

<p style="font-size:11.5pt; font-family:Arial; text-align:left; font-weight:normal; text-decoration:none;">STATEMENT
OF CASH FLOWS</p><p style="font-size:9.0pt; font-family:Arial; text-align:left; font-weight:normal; text-decoration:none;">Six
Months Ended May 31, 2023 (Unaudited)</p>
<!-- PAGEBREAK_END -->
<p style="font-size:9.0pt; font-family:Arial; text-align:left; font-weight:normal; font-style:normal;"><font
style="font-size:4.0pt; font-family:Arial; font-style:normal; font-weight:normal; text-decoration:none;">
</font><a name="5"></a><font style="font-size:9.0pt; font-family:Arial; font-style:normal; font-weight:normal;
text-decoration:none;"> </font></p><table cellspacing="0" style="border-collapse:collapse" width="100%"
cellpadding="0" style="clear:both"><tr style="font-size:1pt;"><td style="width:2.9%;" >&nbsp;</td><td
style="width:55.28%;" >&nbsp;</td><td style="width:.92%;" >&nbsp;</td><td style="width:18.64%;" >&nbsp;</td><td
style="width:1.91%;" >&nbsp;</td><td style="width:18.64%;" >&nbsp;</td><td style="width:1.71%;" >&nbsp;</td></tr><tr><td
colspan="2" style=" vertical-align:bottom; border-top:1.5pt; border-top-style:solid; border-top-color:#000000;
background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right;
color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom;
border-top:1.5pt; border-top-style:solid; border-top-color:#000000; background-color:#D9D9D9; font-size:1pt;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:center; font-weight:bold; text-decoration:none;">&#160;</p></td><td
style="vertical-align:bottom; border-top:1.5pt; border-top-style:solid; border-top-color:#000000; background-color:#D9D9D9;
font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal;
text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom; border-top:1.5pt; border-top-style:solid;
border-top-color:#000000; background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom;
border-top:1.5pt; border-top-style:solid; border-top-color:#000000; background-color:#D9D9D9; font-size:1pt;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td
style="vertical-align:bottom; border-top:1.5pt; border-top-style:solid; border-top-color:#000000; background-color:#D9D9D9;
font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal;
text-decoration:none;">&#160;</p></td></tr><tr><td style="vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid;
border-bottom-color:#000000; background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:center; font-weight:bold; text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom;
border-bottom:0.5pt; border-bottom-style:solid; border-bottom-color:#000000; background-color:#D9D9D9;
font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:center; font-weight:bold;
text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid;
border-bottom-color:#000000; background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:center; font-weight:bold; text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom;
border-bottom:0.5pt; border-bottom-style:solid; border-bottom-color:#000000; background-color:#D9D9D9;
font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal;
text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid;
border-bottom-color:#000000; background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom;
border-bottom:0.5pt; border-bottom-style:solid; border-bottom-color:#000000; background-color:#D9D9D9;
font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal;
text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid;
border-bottom-color:#000000; background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td></tr><tr><td colspan="2"
style=" vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; font-weight:bold; text-decoration:none;">Cash Flows from Operating Activities ($): </p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; font-weight:bold; text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left;
font-weight:normal; text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; font-weight:normal;
text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:right; font-weight:bold; text-decoration:none;">&#160;</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:right; font-weight:bold; text-decoration:none;">&#160;</p></td></tr><tr><td colspan="2" style="
vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left;
font-weight:normal; text-decoration:none;">Purchases of portfolio securities</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left;
font-weight:normal; text-decoration:none;">&#160;</p></td><td style="vertical-align:middle; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:right; font-weight:normal; text-decoration:none;">
(94,538,039)</p></td><td style="vertical-align:middle; background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt;
font-family:Cambria; text-align:right; font-weight:normal; text-decoration:none;">&#160;</p></td><td style="vertical-align:middle;
background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right;
font-weight:bold; text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#000000; font-weight:normal;
text-decoration:none;">&#160;</p></td></tr><tr><td colspan="3" style=" vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; font-weight:normal; text-decoration:none;">Proceeds
from sales of portfolio securities</p></td><td style="vertical-align:middle; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:right; font-weight:normal; text-decoration:none;">
109,636,530 </p></td><td style="vertical-align:middle; background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt;
font-family:Cambria; text-align:right; font-weight:normal; text-decoration:none;">&#160;</p></td><td style="vertical-align:middle;
background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right;
font-weight:bold; text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#000000; font-weight:normal;
text-decoration:none;">&#160;</p></td></tr><tr><td colspan="3" style=" vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; font-weight:normal; text-decoration:none;">Dividends
paid to Preferred Stockholders</p></td><td style="vertical-align:middle; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:right; font-weight:normal; text-decoration:none;">
(1,339,586)</p></td><td style="vertical-align:middle; background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt;
font-family:Cambria; text-align:right; font-weight:normal; text-decoration:none;">&#160;</p></td><td style="vertical-align:middle;
background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right;
font-weight:bold; text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#000000; font-weight:normal;
text-decoration:none;">&#160;</p></td></tr><tr><td colspan="2" style=" vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; font-weight:normal; text-decoration:none;">Interest
income received</p></td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td
style="vertical-align:middle; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:right; font-weight:normal; text-decoration:none;"> 10,448,240 </p></td><td style="vertical-align:middle;
background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right;
font-weight:normal; text-decoration:none;">&#160;</p></td><td style="vertical-align:middle; background-color:#D9D9D9;
font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right; font-weight:bold; text-decoration:none;">&#160;</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td></tr><tr><td colspan="2"
style=" vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; font-weight:normal; text-decoration:none;">Interest and expense related to inverse floater
notes issued</p></td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt;
font-family:Cambria; text-align:left; color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td
style="vertical-align:middle; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:right; font-weight:normal; text-decoration:none;"> (1,618,023)</p></td><td style="vertical-align:middle;
background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right;
font-weight:normal; text-decoration:none;">&#160;</p></td><td style="vertical-align:middle; background-color:#D9D9D9;
font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right; font-weight:bold; text-decoration:none;">&#160;</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td></tr><tr><td colspan="2"
style=" vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; font-weight:normal; font-style:normal;"><font style="font-size:8.0pt; font-family:Cambria;
font-style:normal; font-weight:normal; text-decoration:none;">Expenses paid to BNY Mellon Investment
         </font><br><font style="font-size:8.0pt; font-family:Cambria; font-style:normal; font-weight:normal;
text-decoration:none;">       Adviser, Inc. and affiliates</font></p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left;
color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td style="vertical-align:middle;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right; font-weight:normal;
text-decoration:none;"> (1,218,778)</p></td><td style="vertical-align:middle; background-color:#D9D9D9;
font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right; font-weight:normal;
text-decoration:none;">&#160;</p></td><td style="vertical-align:middle; background-color:#D9D9D9; font-size:1pt;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:right; font-weight:bold; text-decoration:none;">&#160;</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td></tr><tr><td colspan="2"
style=" vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; font-weight:normal; text-decoration:none;">Operating expenses paid</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left;
color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td style="vertical-align:middle;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right; font-weight:normal;
text-decoration:none;"> (245,872)</p></td><td style="vertical-align:middle; background-color:#D9D9D9;
font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right; font-weight:normal;
text-decoration:none;">&#160;</p></td><td style="vertical-align:middle; background-color:#D9D9D9; font-size:1pt;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:right; font-weight:bold; text-decoration:none;">&#160;</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td></tr><tr><td colspan="2"
style=" vertical-align:bottom; border-bottom:1pt; border-bottom-style:solid; border-bottom-color:#F2F2F2;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; font-weight:bold;
text-decoration:none;">Net Cash Provided (or Used) in Operating Activities</p></td><td style="vertical-align:bottom;
border-bottom:1pt; border-bottom-style:solid; border-bottom-color:#F2F2F2; background-color:#D9D9D9;
font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#000000; font-weight:normal;
text-decoration:none;">&#160;</p></td><td style="vertical-align:middle; border-bottom:1pt; border-bottom-style:solid;
border-bottom-color:#F2F2F2; background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td style="vertical-align:middle;
border-bottom:1pt; border-bottom-style:solid; border-bottom-color:#F2F2F2; background-color:#D9D9D9;
font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal;
text-decoration:none;">&#160;</p></td><td style="vertical-align:middle; border-bottom:1pt; border-bottom-style:solid;
border-bottom-color:#F2F2F2; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:bold; text-decoration:none;"> 21,124,472 </p></td><td style="vertical-align:bottom;
border-bottom:1pt; border-bottom-style:solid; border-bottom-color:#F2F2F2; background-color:#D9D9D9;
font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#000000; font-weight:bold;
text-decoration:none;">&#160;</p></td></tr><tr><td colspan="2" style=" vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; font-weight:bold; text-decoration:none;">Cash
Flows from Financing Activities ($):</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; font-weight:bold; text-decoration:none;">&#160;</p></td><td
style="vertical-align:middle; background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td style="vertical-align:middle;
background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right;
color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td style="vertical-align:middle;
background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right;
color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left;
color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td></tr><tr><td colspan="2" style="
vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left;
font-weight:normal; text-decoration:none;">Dividends paid to Common Stockholders</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left;
color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td style="vertical-align:middle;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;"> (7,612,017)</p></td><td style="vertical-align:middle; background-color:#D9D9D9;
font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal;
text-decoration:none;">&#160;</p></td><td style="vertical-align:middle; background-color:#D9D9D9; font-size:1pt;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td></tr><tr><td colspan="2"
style=" vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; font-weight:normal; text-decoration:none;">Decrease in payable for inverse floater notes
issued</p></td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt;
font-family:Cambria; text-align:left; color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td
style="vertical-align:middle; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;"> (13,699,671)</p></td><td
style="vertical-align:middle; background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td style="vertical-align:middle;
background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right;
color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left;
color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td></tr><tr><td colspan="4" style="
vertical-align:bottom; border-bottom:1pt; border-bottom-style:solid; border-bottom-color:#F2F2F2; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; font-weight:bold; text-decoration:none;">Net
Cash Provided (or Used) in Financing Activities</p></td><td style="vertical-align:bottom; border-bottom:1pt;
border-bottom-style:solid; border-bottom-color:#F2F2F2; background-color:#D9D9D9; font-size:1pt;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td
style="vertical-align:middle; border-bottom:1pt; border-bottom-style:solid; border-bottom-color:#F2F2F2;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:bold; text-decoration:none;"> (21,311,688)</p></td><td style="vertical-align:bottom; border-bottom:1pt;
border-bottom-style:solid; border-bottom-color:#F2F2F2; background-color:#D9D9D9; font-size:1pt;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#000000; font-weight:bold; text-decoration:none;">&#160;</p></td></tr><tr><td
colspan="4" style=" vertical-align:bottom; border-top:1pt; border-top-style:solid; border-top-color:#F2F2F2;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#000000;
font-weight:bold; text-decoration:none;">Net Increase (Decrease) in Cash</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right;
color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td style="vertical-align:middle;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:bold; text-decoration:none;"> (187,216)</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#000000; font-weight:bold;
text-decoration:none;">&#160;</p></td></tr><tr><td colspan="4" style=" vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#000000; font-weight:normal; text-decoration:none;">Cash
at beginning of period</p></td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td
style="vertical-align:middle; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;"> 333,817 </p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left;
color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td></tr><tr><td colspan="4" style="
vertical-align:bottom; border-bottom:1pt; border-bottom-style:solid; border-bottom-color:#F2F2F2; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#000000; font-weight:bold; text-decoration:none;">Cash
at End of Period</p></td><td style="vertical-align:bottom; border-bottom:1pt; border-bottom-style:solid;
border-bottom-color:#F2F2F2; background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td style="vertical-align:middle;
border-bottom:1pt; border-bottom-style:solid; border-bottom-color:#F2F2F2; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000; font-weight:bold; text-decoration:none;">
146,601 </p></td><td style="vertical-align:bottom; border-bottom:1pt; border-bottom-style:solid; border-bottom-color:#F2F2F2;
background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left;
color:#000000; font-weight:bold; text-decoration:none;">&#160;</p></td></tr><tr><td colspan="4" style=" vertical-align:bottom;
border-top:1pt; border-top-style:solid; border-top-color:#F2F2F2; background-color:#D9D9D9;"><p style="font-size:8.0pt;
font-family:Cambria; text-align:left; color:#000000; font-weight:bold; text-decoration:none;">Reconciliation
of Net Increase (Decrease) in Net Assets Applicable to</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal;
text-decoration:none;">&#160;</p></td><td style="vertical-align:middle; background-color:#D9D9D9; font-size:1pt;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td></tr><tr><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left;
color:#000000; font-weight:bold; text-decoration:none;">&#160;</p></td><td colspan="3" style=" vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#000000;
font-weight:bold; text-decoration:none;">Common Stockholders Resulting from Operations to</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td style="vertical-align:middle;
background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right;
color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left;
color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td></tr><tr><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left;
color:#000000; font-weight:bold; text-decoration:none;">&#160;</p></td><td colspan="3" style=" vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#000000;
font-weight:bold; text-decoration:none;">Net Cash Provided (or Used) in Operating Activities ($):</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td style="vertical-align:middle;
background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right;
color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left;
color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td></tr><tr><td colspan="4" style="
vertical-align:bottom; border-bottom:1pt; border-bottom-style:solid; border-bottom-color:#F2F2F2; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#000000; font-weight:normal; text-decoration:none;">Net
Increase in Net Assets Resulting From Operations</p></td><td style="vertical-align:bottom; border-bottom:1pt;
border-bottom-style:solid; border-bottom-color:#F2F2F2; background-color:#D9D9D9; font-size:1pt;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td
style="vertical-align:middle; border-bottom:1pt; border-bottom-style:solid; border-bottom-color:#F2F2F2;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;"> 5,212,224 </p></td><td style="vertical-align:bottom; border-bottom:1pt;
border-bottom-style:solid; border-bottom-color:#F2F2F2; background-color:#D9D9D9; font-size:1pt;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td></tr><tr><td
colspan="4" style=" vertical-align:bottom; border-top:1pt; border-top-style:solid; border-top-color:#F2F2F2;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#000000;
font-weight:bold; text-decoration:none;">Adjustments to Reconcile Net Increase (Decrease) in Net Assets</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td style="vertical-align:middle;
background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right;
color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left;
color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td></tr><tr><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left;
color:#000000; font-weight:bold; text-decoration:none;">&#160;</p></td><td colspan="3" style=" vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#000000;
font-weight:bold; text-decoration:none;">Applicable to Common Stockholders Resulting from</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td style="vertical-align:middle;
background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right;
color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left;
color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td></tr><tr><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left;
color:#000000; font-weight:bold; text-decoration:none;">&#160;</p></td><td colspan="3" style=" vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#000000;
font-weight:bold; text-decoration:none;">Operations to Net Cash Provided (or Used) in Operating Activities
($):</p></td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td
style="vertical-align:middle; background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left;
color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td></tr><tr><td colspan="4" style="
vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left;
font-weight:normal; text-decoration:none;">Decrease in investments in securities at cost</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td style="vertical-align:middle;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;"> 20,035,449 </p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#000000; font-weight:bold;
text-decoration:none;">&#160;</p></td></tr><tr><td colspan="4" style=" vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; font-weight:normal; text-decoration:none;">Decrease
in interest receivable</p></td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td
style="vertical-align:middle; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;"> 442,714 </p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left;
color:#000000; font-weight:bold; text-decoration:none;">&#160;</p></td></tr><tr><td colspan="4" style=" vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; font-weight:normal;
text-decoration:none;">Increase in prepaid expenses</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal;
text-decoration:none;">&#160;</p></td><td style="vertical-align:middle; background-color:#D9D9D9;"><p style="font-size:8.0pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;"> (32,707)</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; color:#000000; font-weight:bold; text-decoration:none;">&#160;</p></td></tr><tr><td colspan="4"
style=" vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; font-weight:normal; text-decoration:none;">Increase in Due to BNY Mellon Investment
Adviser, Inc. and affiliates</p></td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td
style="vertical-align:middle; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;"> 11,348 </p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left;
color:#000000; font-weight:bold; text-decoration:none;">&#160;</p></td></tr><tr><td colspan="4" style=" vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; font-weight:normal;
text-decoration:none;">Increase in payable for investment securities purchased</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right;
color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td style="vertical-align:middle;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;"> 1,666,328 </p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#000000; font-weight:bold;
text-decoration:none;">&#160;</p></td></tr><tr><td colspan="4" style=" vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; font-weight:normal; text-decoration:none;">Increase
 in interest and expense payable related to inverse floater notes issued</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right;
color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td style="vertical-align:middle;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;"> 210,397 </p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#000000; font-weight:bold;
text-decoration:none;">&#160;</p></td></tr><tr><td colspan="4" style=" vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; font-weight:normal; text-decoration:none;">Increase
in dividends payable to Preferred Stockholders</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal;
text-decoration:none;">&#160;</p></td><td style="vertical-align:middle; background-color:#D9D9D9;"><p style="font-size:8.0pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;"> 6,925
</p></td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt;
font-family:Cambria; text-align:left; color:#000000; font-weight:bold; text-decoration:none;">&#160;</p></td></tr><tr><td
colspan="4" style=" vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; font-weight:normal; text-decoration:none;">Decrease in Directors' fees and expenses
payable</p></td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td
style="vertical-align:middle; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;"> (1,135)</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left;
color:#000000; font-weight:bold; text-decoration:none;">&#160;</p></td></tr><tr><td colspan="4" style=" vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; font-weight:normal;
text-decoration:none;">Increase in commissions payable and other accrued expenses</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right;
color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td style="vertical-align:middle;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;"> 1,441 </p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#000000; font-weight:bold;
text-decoration:none;">&#160;</p></td></tr><tr><td colspan="4" style=" vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; font-weight:normal; text-decoration:none;">Net
change in unrealized (appreciation) depreciation on investments</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right;
color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td style="vertical-align:middle;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;"> (6,428,512)</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#000000; font-weight:bold;
text-decoration:none;">&#160;</p></td></tr><tr><td colspan="4" style=" vertical-align:bottom; border-bottom:1pt;
border-bottom-style:solid; border-bottom-color:#F2F2F2; background-color:#D9D9D9;"><p style="font-size:8.0pt;
font-family:Cambria; text-align:left; font-weight:bold; text-decoration:none;">Net Cash Provided (or
Used) in Operating Activities</p></td><td style="vertical-align:bottom; border-bottom:1pt; border-bottom-style:solid;
border-bottom-color:#F2F2F2; background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td style="vertical-align:middle;
border-bottom:1pt; border-bottom-style:solid; border-bottom-color:#F2F2F2; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000; font-weight:bold; text-decoration:none;">
21,124,472 </p></td><td style="vertical-align:bottom; border-bottom:1pt; border-bottom-style:solid; border-bottom-color:#F2F2F2;
background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left;
color:#000000; font-weight:bold; text-decoration:none;">&#160;</p></td></tr><tr><td style="vertical-align:bottom;
font-size:1pt;"><p style="font-size:10.0pt; font-family:Arial; text-align:left; color:#000000; font-weight:normal;
text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom; font-size:1pt;"><p style="font-size:10.0pt;
font-family:Arial; text-align:left; color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td
style="vertical-align:bottom; font-size:1pt;"><p style="font-size:8.0pt; font-family:Arial; text-align:left;
color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom;
font-size:1pt;"><p style="font-size:8.0pt; font-family:Arial; text-align:left; color:#000000; font-weight:normal;
text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom; font-size:1pt;"><p style="font-size:8.0pt;
font-family:Arial; text-align:left; color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td
style="vertical-align:bottom; font-size:1pt;"><p style="font-size:8.0pt; font-family:Arial; text-align:left;
color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom;
font-size:1pt;"><p style="font-size:8.0pt; font-family:Arial; text-align:left; color:#000000; font-weight:normal;
text-decoration:none;">&#160;</p></td></tr><tr><td colspan="2" style=" vertical-align:top;"><p style="font-size:8.0pt;
font-family:Serif; text-align:left; color:#000000; font-weight:normal; text-decoration:none; font-style:italic;">See
notes to financial statements.</p></td><td style="vertical-align:bottom; font-size:1pt;" >&nbsp;</td><td
style="vertical-align:bottom; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; font-size:1pt;"
>&nbsp;</td><td style="vertical-align:bottom; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
font-size:1pt;" >&nbsp;</td></tr></table>
<!-- PAGEBREAK_START -->
<p style="font-size:8.0pt; font-family:Arial; text-align:center; font-weight:bold; text-decoration:none;">25</p>

<!-- Field: Rule-Page --><div style="margin: 3pt auto; width: 25%"><div style="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</div></div><!-- Field: /Rule-Page -->
<p style="page-break-before:always;"></p>

<p style="font-size:11.5pt; font-family:Arial; text-align:left; font-weight:normal; text-decoration:none;">STATEMENT
OF CHANGES IN NET ASSETS</p>
<!-- PAGEBREAK_END -->
<p style="font-size:9.0pt; font-family:Arial; text-align:left; font-weight:normal; font-style:normal;"><font
style="font-size:4.0pt; font-family:Arial; font-style:normal; font-weight:normal; text-decoration:none;">
</font><a name="6"></a><font style="font-size:9.0pt; font-family:Arial; font-style:normal; font-weight:normal;
text-decoration:none;"> </font></p><table cellspacing="0" style="border-collapse:collapse" width="100%"
cellpadding="0" style="clear:both"><tr style="font-size:1pt;"><td style="width:2.79%;" >&nbsp;</td><td
style="width:39.04%;" >&nbsp;</td><td style="width:7.32%;" >&nbsp;</td><td style="width:2.8%;" >&nbsp;</td><td
style="width:21.15%;" >&nbsp;</td><td style="width:1.21%;" >&nbsp;</td><td style="width:1.21%;" >&nbsp;</td><td
style="width:1.21%;" >&nbsp;</td><td style="width:21.15%;" >&nbsp;</td><td style="width:2.12%;" >&nbsp;</td></tr><tr><td
style="vertical-align:bottom; border-bottom:0.25pt; border-bottom-style:solid; border-bottom-color:#000000;
font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#969696; font-weight:normal;
text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom; border-bottom:0.25pt; border-bottom-style:solid;
border-bottom-color:#000000; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left;
color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom;
border-bottom:0.25pt; border-bottom-style:solid; border-bottom-color:#000000; font-size:1pt;"><p style="font-size:8.0pt;
font-family:Cambria; text-align:left; color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td
style="vertical-align:bottom; border-bottom:0.25pt; border-bottom-style:solid; border-bottom-color:#000000;
font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#000000; font-weight:normal;
text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom; border-bottom:0.25pt; border-bottom-style:solid;
border-bottom-color:#000000; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left;
color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom;
border-bottom:0.25pt; border-bottom-style:solid; border-bottom-color:#000000; font-size:1pt;"><p style="font-size:8.0pt;
font-family:Cambria; text-align:left; color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td
style="vertical-align:bottom; border-bottom:0.25pt; border-bottom-style:solid; border-bottom-color:#000000;
font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#000000; font-weight:normal;
text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom; border-bottom:0.25pt; border-bottom-style:solid;
border-bottom-color:#000000; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left;
color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom;
border-bottom:0.25pt; border-bottom-style:solid; border-bottom-color:#000000; font-size:1pt;"><p style="font-size:8.0pt;
font-family:Cambria; text-align:left; color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td
style="vertical-align:bottom; border-bottom:0.25pt; border-bottom-style:solid; border-bottom-color:#000000;
font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#969696; font-weight:normal;
text-decoration:none;">&#160;</p></td></tr><tr><td style="vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid;
border-bottom-color:#000000; border-top:1.5pt; border-top-style:solid; border-top-color:#000000; background-color:#D9D9D9;
font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#969696; font-weight:normal;
text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid;
border-bottom-color:#000000; border-top:1.5pt; border-top-style:solid; border-top-color:#000000; background-color:#D9D9D9;
font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#000000; font-weight:normal;
text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid;
border-bottom-color:#000000; border-top:1.5pt; border-top-style:solid; border-top-color:#000000; background-color:#D9D9D9;
font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#000000; font-weight:normal;
text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid;
border-bottom-color:#000000; border-top:1.5pt; border-top-style:solid; border-top-color:#000000; background-color:#D9D9D9;
font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#000000; font-weight:normal;
text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid;
border-bottom-color:#000000; border-top:1.5pt; border-top-style:solid; border-top-color:#000000; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:right; font-weight:normal; font-style:normal;"><font
style="font-size:8.0pt; font-family:Cambria; font-style:normal; font-weight:normal; text-decoration:none;">Six
Months Ended </font><br><font style="font-size:8.0pt; font-family:Cambria; font-style:normal; font-weight:normal;
text-decoration:none;">May 31, 2023 (Unaudited)</font></p></td><td colspan="3" style=" vertical-align:bottom;
border-bottom:0.5pt; border-bottom-style:solid; border-bottom-color:#000000; border-top:1.5pt; border-top-style:solid;
border-top-color:#000000; background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom;
border-bottom:0.5pt; border-bottom-style:solid; border-bottom-color:#000000; border-top:1.5pt; border-top-style:solid;
border-top-color:#000000; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:right; font-weight:normal; font-style:normal;"><font style="font-size:8.0pt; font-family:Cambria;
font-style:normal; font-weight:normal; text-decoration:none;">Year Ended</font><br><font style="font-size:8.0pt;
font-family:Cambria; font-style:normal; font-weight:normal; text-decoration:none;"> November 30, 2022</font></p></td><td
style="vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid; border-bottom-color:#000000;
border-top:1.5pt; border-top-style:solid; border-top-color:#000000; background-color:#D9D9D9; font-size:1pt;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:right; font-weight:normal; text-decoration:none;">&#160;</p></td></tr><tr><td
colspan="2" style=" vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; color:#000000; font-weight:bold; text-decoration:none;">Operations ($):</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left;
color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left;
color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left;
color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left;
color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left;
color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left;
color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left;
color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td></tr><tr><td colspan="2" style="
vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left;
color:#000000; font-weight:normal; text-decoration:none;">Net investment income</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left;
color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left;
color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;"> 6,733,509 </p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#000000; font-weight:normal;
text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;"> 16,503,441 </p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#000000; font-weight:normal;
text-decoration:none;">&#160;</p></td></tr><tr><td colspan="3" style=" vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#000000; font-weight:normal; text-decoration:none;">Net
realized gain (loss) on investments</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#000000; font-weight:normal;
text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;"> (6,603,286)</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left;
color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left;
color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;"> (12,630,458)</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#000000; font-weight:normal;
text-decoration:none;">&#160;</p></td></tr><tr><td colspan="3" style=" vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#000000; font-weight:normal; font-style:normal;"><font
style="font-size:8.0pt; font-family:Cambria; font-style:normal; color:#000000; font-weight:normal; text-decoration:none;">Net
change in unrealized appreciation                      </font><br><font style="font-size:8.0pt; font-family:Cambria;
font-style:normal; color:#000000; font-weight:normal; text-decoration:none;">    (depreciation) on investments</font></p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;"> 6,428,512 </p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#000000; font-weight:normal;
text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;"> (75,322,418)</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#000000; font-weight:normal;
text-decoration:none;">&#160;</p></td></tr><tr><td colspan="2" style=" vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#000000; font-weight:normal; text-decoration:none;">Dividends
to Preferred Stockholders</p></td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;"> (1,346,511)</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#000000; font-weight:normal;
text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;"> (810,577)</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#000000; font-weight:normal;
text-decoration:none;">&#160;</p></td></tr><tr><td colspan="4" style=" vertical-align:bottom; border-bottom:1pt;
border-bottom-style:solid; border-bottom-color:#F2F2F2; background-color:#D9D9D9;"><p style="font-size:8.0pt;
font-family:Cambria; text-align:left; color:#000000; font-weight:bold; font-style:normal;"><font style="font-size:8.0pt;
font-family:Cambria; font-style:normal; color:#000000; font-weight:bold; text-decoration:none;">Net Increase
(Decrease) in Net Assets Applicable</font><br><font style="font-size:8.0pt; font-family:Cambria; font-style:normal;
color:#000000; font-weight:bold; text-decoration:none;">   to Common Stockholders Resulting from </font><br><font
style="font-size:8.0pt; font-family:Cambria; font-style:normal; color:#000000; font-weight:bold; text-decoration:none;">
  Operations</font></p></td><td style="vertical-align:bottom; border-bottom:1pt; border-bottom-style:solid;
border-bottom-color:#F2F2F2; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:bold; text-decoration:none;"> 5,212,224 </p></td><td style="vertical-align:bottom;
border-bottom:1pt; border-bottom-style:solid; border-bottom-color:#F2F2F2; background-color:#D9D9D9;
font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#000000; font-weight:normal;
text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom; border-bottom:1pt; border-bottom-style:solid;
border-bottom-color:#F2F2F2; background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom;
border-bottom:1pt; border-bottom-style:solid; border-bottom-color:#F2F2F2; background-color:#D9D9D9;
font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#000000; font-weight:normal;
text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom; border-bottom:1pt; border-bottom-style:solid;
border-bottom-color:#F2F2F2; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:bold; text-decoration:none;"> (72,260,012)</p></td><td style="vertical-align:bottom;
border-bottom:1pt; border-bottom-style:solid; border-bottom-color:#F2F2F2; background-color:#D9D9D9;
font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#000000; font-weight:bold;
text-decoration:none;">&#160;</p></td></tr><tr><td colspan="9" style=" vertical-align:bottom; border-top:1pt;
border-top-style:solid; border-top-color:#F2F2F2; background-color:#D9D9D9;"><p style="font-size:8.0pt;
font-family:Cambria; text-align:left; color:#000000; font-weight:bold; text-decoration:none;">Distributions
($):</p></td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt;
font-family:Cambria; text-align:left; color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td></tr><tr><td
colspan="2" style=" vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; color:#000000; font-weight:normal; text-decoration:none;">Distributions to stockholders</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left;
color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;"> (6,524,587)</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#000000; font-weight:normal;
text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;"> (17,398,684)</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#000000; font-weight:normal;
text-decoration:none;">&#160;</p></td></tr><tr><td colspan="2" style=" vertical-align:bottom; border-bottom:1pt;
border-bottom-style:solid; border-bottom-color:#F2F2F2; background-color:#D9D9D9;"><p style="font-size:8.0pt;
font-family:Cambria; text-align:left; color:#000000; font-weight:bold; text-decoration:none;">Distributions
to Common Stockholders</p></td><td style="vertical-align:bottom; border-bottom:1pt; border-bottom-style:solid;
border-bottom-color:#F2F2F2; background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom;
border-bottom:1pt; border-bottom-style:solid; border-bottom-color:#F2F2F2; background-color:#D9D9D9;
font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#000000; font-weight:normal;
text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom; border-bottom:1pt; border-bottom-style:solid;
border-bottom-color:#F2F2F2; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:bold; text-decoration:none;"> (6,524,587)</p></td><td style="vertical-align:bottom;
border-bottom:1pt; border-bottom-style:solid; border-bottom-color:#F2F2F2; background-color:#D9D9D9;
font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#000000; font-weight:normal;
text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom; border-bottom:1pt; border-bottom-style:solid;
border-bottom-color:#F2F2F2; background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom;
border-bottom:1pt; border-bottom-style:solid; border-bottom-color:#F2F2F2; background-color:#D9D9D9;
font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#000000; font-weight:normal;
text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom; border-bottom:1pt; border-bottom-style:solid;
border-bottom-color:#F2F2F2; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:bold; text-decoration:none;"> (17,398,684)</p></td><td style="vertical-align:bottom;
border-bottom:1pt; border-bottom-style:solid; border-bottom-color:#F2F2F2; background-color:#D9D9D9;
font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#000000; font-weight:bold;
text-decoration:none;">&#160;</p></td></tr><tr><td colspan="9" style=" vertical-align:bottom; border-top:1pt;
border-top-style:solid; border-top-color:#F2F2F2; background-color:#D9D9D9;"><p style="font-size:8.0pt;
font-family:Cambria; text-align:left; color:#000000; font-weight:bold; text-decoration:none;">Capital
Stock Transactions ($):</p></td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td></tr><tr><td
colspan="2" style=" vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; color:#000000; font-weight:normal; text-decoration:none;">Distributions reinvested</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left;
color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;"> -   </p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#000000; font-weight:normal;
text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;"> 60,028 </p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#000000; font-weight:normal;
text-decoration:none;">&#160;</p></td></tr><tr><td colspan="4" style=" vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#000000; font-weight:bold; font-style:normal;"><font
style="font-size:8.0pt; font-family:Cambria; font-style:normal; color:#000000; font-weight:bold; text-decoration:none;">Increase
(Decrease) in Net Assets </font><br><font style="font-size:8.0pt; font-family:Cambria; font-style:normal;
color:#000000; font-weight:bold; text-decoration:none;">   from Capital Stock Transactions</font></p></td><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:bold; text-decoration:none;"> -   </p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left;
color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left;
color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left;
color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:bold; text-decoration:none;"> 60,028 </p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#000000; font-weight:bold;
text-decoration:none;">&#160;</p></td></tr><tr><td colspan="4" style=" vertical-align:bottom; border-bottom:1pt;
border-bottom-style:solid; border-bottom-color:#F2F2F2; background-color:#D9D9D9;"><p style="font-size:8.0pt;
font-family:Cambria; text-align:left; color:#000000; font-weight:bold; font-style:normal;"><font style="font-size:8.0pt;
font-family:Cambria; font-style:normal; color:#000000; font-weight:bold; text-decoration:none;">Total
Increase (Decrease) in Net Assets </font><br><font style="font-size:8.0pt; font-family:Cambria; font-style:normal;
color:#000000; font-weight:bold; text-decoration:none;">   Applicable to Common Stockholders</font></p></td><td
style="vertical-align:bottom; border-bottom:1pt; border-bottom-style:solid; border-bottom-color:#F2F2F2;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:bold; text-decoration:none;"> (1,312,363)</p></td><td style="vertical-align:bottom; border-bottom:1pt;
border-bottom-style:solid; border-bottom-color:#F2F2F2; background-color:#D9D9D9; font-size:1pt;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td
style="vertical-align:bottom; border-bottom:1pt; border-bottom-style:solid; border-bottom-color:#F2F2F2;
background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left;
color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom;
border-bottom:1pt; border-bottom-style:solid; border-bottom-color:#F2F2F2; background-color:#D9D9D9;
font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#000000; font-weight:normal;
text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom; border-bottom:1pt; border-bottom-style:solid;
border-bottom-color:#F2F2F2; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:bold; text-decoration:none;"> (89,598,668)</p></td><td style="vertical-align:bottom;
border-bottom:1pt; border-bottom-style:solid; border-bottom-color:#F2F2F2; background-color:#D9D9D9;
font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#000000; font-weight:bold;
text-decoration:none;">&#160;</p></td></tr><tr><td colspan="9" style=" vertical-align:bottom; border-top:1pt;
border-top-style:solid; border-top-color:#F2F2F2; background-color:#D9D9D9;"><p style="font-size:8.0pt;
font-family:Cambria; text-align:left; color:#000000; font-weight:bold; text-decoration:none;">Net Assets
Applicable to Common Stockholders ($):</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#000000; font-weight:normal;
text-decoration:none;">&#160;</p></td></tr><tr><td colspan="2" style=" vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#000000; font-weight:normal; text-decoration:none;">Beginning
of Period</p></td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt;
font-family:Cambria; text-align:left; color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;"> 324,663,200 </p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#000000; font-weight:normal;
text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;"> 414,261,868 </p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#000000; font-weight:normal;
text-decoration:none;">&#160;</p></td></tr><tr><td colspan="2" style=" vertical-align:bottom; border-bottom:0.25pt;
border-bottom-style:solid; border-bottom-color:#000000; background-color:#D9D9D9;"><p style="font-size:8.0pt;
font-family:Cambria; text-align:left; color:#000000; font-weight:bold; text-decoration:none;">End of
Period</p></td><td style="vertical-align:bottom; border-bottom:0.25pt; border-bottom-style:solid; border-bottom-color:#000000;
background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left;
color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom;
border-bottom:0.25pt; border-bottom-style:solid; border-bottom-color:#000000; background-color:#D9D9D9;
font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#000000; font-weight:normal;
text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom; border-bottom:0.25pt; border-bottom-style:solid;
border-bottom-color:#000000; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:bold; text-decoration:none;"> 323,350,837 </p></td><td style="vertical-align:bottom;
border-bottom:0.25pt; border-bottom-style:solid; border-bottom-color:#000000; background-color:#D9D9D9;
font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#000000; font-weight:normal;
text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom; border-bottom:0.25pt; border-bottom-style:solid;
border-bottom-color:#000000; background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom;
border-bottom:0.25pt; border-bottom-style:solid; border-bottom-color:#000000; background-color:#D9D9D9;
font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#000000; font-weight:normal;
text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom; border-bottom:0.25pt; border-bottom-style:solid;
border-bottom-color:#000000; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:bold; text-decoration:none;"> 324,663,200 </p></td><td style="vertical-align:bottom;
border-bottom:0.25pt; border-bottom-style:solid; border-bottom-color:#000000; background-color:#D9D9D9;
font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#000000; font-weight:bold;
text-decoration:none;">&#160;</p></td></tr><tr><td colspan="9" style=" vertical-align:bottom; border-top:0.5pt;
border-top-style:solid; border-top-color:#FFFFFF; background-color:#D9D9D9;"><p style="font-size:8.0pt;
font-family:Cambria; text-align:left; color:#000000; font-weight:bold; text-decoration:none;">Capital
Share Transactions (Common Shares):</p></td><td style="vertical-align:bottom; border-top:0.5pt; border-top-style:solid;
border-top-color:#FFFFFF; background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td></tr><tr><td colspan="2"
style=" vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; color:#000000; font-weight:normal; text-decoration:none;">Shares issued for distributions
reinvested</p></td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt;
font-family:Cambria; text-align:left; color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;"> -   </p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#000000; font-weight:normal;
text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;"> 7,180 </p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#000000; font-weight:normal;
text-decoration:none;">&#160;</p></td></tr><tr><td colspan="4" style=" vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#000000; font-weight:bold; text-decoration:none;">Net
Increase (Decrease) in Shares Outstanding</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000; font-weight:bold; text-decoration:none;">
-   </p></td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt;
font-family:Cambria; text-align:left; color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left;
color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:bold; text-decoration:none;"> 7,180 </p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#000000; font-weight:bold;
text-decoration:none;">&#160;</p></td></tr><tr><td style="vertical-align:bottom; font-size:1pt;"><p style="font-size:8.0pt;
font-family:Cambria; text-align:left; color:#000000; font-weight:bold; text-decoration:none;">&#160;</p></td><td
style="vertical-align:bottom; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left;
color:#000000; font-weight:bold; text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom;
font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#000000; font-weight:bold;
text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom; font-size:1pt;"><p style="font-size:8.0pt;
font-family:Cambria; text-align:left; color:#000000; font-weight:bold; text-decoration:none;">&#160;</p></td><td
style="vertical-align:bottom; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left;
color:#000000; font-weight:bold; text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom;
font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#000000; font-weight:normal;
text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom; font-size:1pt;"><p style="font-size:8.0pt;
font-family:Cambria; text-align:left; color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td
style="vertical-align:bottom; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left;
color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom;
font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#000000; font-weight:bold;
text-decoration:none;">&#160;</p></td><td style="vertical-align:bottom; font-size:1pt;"><p style="font-size:8.0pt;
font-family:Cambria; text-align:left; color:#000000; font-weight:bold; text-decoration:none;">&#160;</p></td></tr><tr><td
colspan="2" style=" vertical-align:top;"><p style="font-size:8.0pt; font-family:Serif; text-align:left;
color:#000000; font-weight:normal; text-decoration:none; font-style:italic;">See notes to financial statements.</p></td><td
style="vertical-align:bottom; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; font-size:1pt;"
>&nbsp;</td><td style="vertical-align:bottom; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
font-size:1pt;" >&nbsp;</td></tr></table>
<!-- PAGEBREAK_START -->
<p style="font-size:8.0pt; font-family:Arial; text-align:center; font-weight:bold; text-decoration:none;">26</p>

<!-- Field: Rule-Page --><div style="margin: 3pt auto; width: 25%"><div style="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</div></div><!-- Field: /Rule-Page -->
<p style="page-break-before:always;"></p>

<p style="font-size:11.5pt; font-family:Arial; text-align:left; font-weight:normal; text-decoration:none;">FINANCIAL
HIGHLIGHTS</p>
<!-- PAGEBREAK_END -->
<p style="font-size:10.0pt; font-family:Serif; text-align:justify; font-weight:normal; font-style:normal;"><font
style="font-size:4.0pt; font-family:Arial; font-style:normal; font-weight:normal; text-decoration:none;">
</font><a name="7"></a><font style="font-size:10.0pt; font-family:Serif; font-style:normal; font-weight:normal;
text-decoration:none;"> </font></p><p style="font-size:10.0pt; font-family:Serif; font-style:normal;
text-align:justify; font-weight:normal; text-decoration:none;">The following table describes the performance
for the fiscal periods indicated. Market price total return is calculated assuming an initial investment
made at the market price at the beginning of the period, reinvestment of all dividends and distributions
at market price during the period, and sale at the market price on the last day of the period. These
figures have been derived from the fund&#8217;s financial statements, and with respect to common stock, market
price data for the fund&#8217;s common shares.</p><table cellspacing="0" style="border-collapse:collapse"
width="100%" cellpadding="0" style="clear:both"><tr style="font-size:1pt;"><td style="width:35%;" >&nbsp;</td><td
style="width:3.75%;" >&nbsp;</td><td style="width:15%;" >&nbsp;</td><td style="width:9.25%;" >&nbsp;</td><td
style="width:9.25%;" >&nbsp;</td><td style="width:9.25%;" >&nbsp;</td><td style="width:9.25%;" >&nbsp;</td><td
style="width:9.25%;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom; border-top:1.5pt; border-top-style:solid;
border-top-color:#000000; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td colspan="2" style="
vertical-align:top; border-top:1.5pt; border-top-style:solid; border-top-color:#000000; background-color:#D9D9D9;"><p
style="font-size:7.5pt; font-family:Cambria; text-align:right; color:#141414; text-indent:-7.2pt; font-weight:normal;
margin-left:7.2pt; text-decoration:none;">Six Months Ended</p></td><td colspan="5" style=" vertical-align:bottom;
border-top:1.5pt; border-top-style:solid; border-top-color:#000000; background-color:#D9D9D9; font-size:1pt;"
>&nbsp;</td></tr><tr><td colspan="3" style=" vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">May
31, 2023</p></td><td colspan="5" style=" vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid;
border-bottom-color:#000000; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:center; color:#000000; font-weight:normal; text-decoration:none;">Year Ended November 30,</p></td></tr><tr><td
colspan="3" style=" vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid; border-bottom-color:#000000;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">(Unaudited)</p></td><td style="vertical-align:bottom; border-bottom:0.5pt;
border-bottom-style:solid; border-bottom-color:#000000; border-top:0.5pt; border-top-style:solid; border-top-color:#000000;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">2022</p></td><td style="vertical-align:bottom; border-bottom:0.5pt;
border-bottom-style:solid; border-bottom-color:#000000; border-top:0.5pt; border-top-style:solid; border-top-color:#000000;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">2021</p></td><td style="vertical-align:bottom; border-bottom:0.5pt;
border-bottom-style:solid; border-bottom-color:#000000; border-top:0.5pt; border-top-style:solid; border-top-color:#000000;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">2020</p></td><td style="vertical-align:bottom; border-bottom:0.5pt;
border-bottom-style:solid; border-bottom-color:#000000; border-top:0.5pt; border-top-style:solid; border-top-color:#000000;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">2019</p></td><td style="vertical-align:bottom; border-bottom:0.5pt;
border-bottom-style:solid; border-bottom-color:#000000; border-top:0.5pt; border-top-style:solid; border-top-color:#000000;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">2018</p></td></tr><tr><td colspan="2" style=" vertical-align:bottom;
border-top:0.5pt; border-top-style:solid; border-top-color:#000000; background-color:#D9D9D9;"><p style="font-size:12.0pt;
font-family:Cambria; text-align:left; color:#000000; text-indent:-7.2pt; font-weight:bold; margin-left:7.2pt;
font-style:normal;"><font style="font-size:8.0pt; font-family:Cambria; font-style:normal; color:#000000;
font-weight:bold; text-decoration:none;">Per Share Data ($):</font></p></td><td style="vertical-align:bottom;
border-top:0.5pt; border-top-style:solid; border-top-color:#000000; background-color:#D9D9D9; font-size:1pt;"
>&nbsp;</td><td style="vertical-align:bottom; border-top:0.5pt; border-top-style:solid; border-top-color:#000000;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; border-top:0.5pt;
border-top-style:solid; border-top-color:#000000; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td
style="vertical-align:bottom; border-top:0.5pt; border-top-style:solid; border-top-color:#000000; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; border-top:0.5pt; border-top-style:solid;
border-top-color:#000000; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
border-top:0.5pt; border-top-style:solid; border-top-color:#000000; background-color:#D9D9D9; font-size:1pt;"
>&nbsp;</td></tr><tr><td colspan="2" style=" vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt;
font-family:Cambria; text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal; margin-left:7.2pt;
text-decoration:none;">Net asset value, beginning of period</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">6.57</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">8.38</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;">8.24</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">8.30</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">7.91</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;">8.29</p></td></tr><tr><td
colspan="2" style=" vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal; margin-left:7.2pt; text-decoration:none;">Investment
Operations:</p></td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"
>&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td
colspan="2" style=" vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal; margin-left:7.2pt; font-style:normal;"><font
style="font-size:8.0pt; font-family:Cambria; font-style:normal; color:#141414; font-weight:normal; text-decoration:none;">Net
investment income</font><font style="font-size:8.0pt; font-family:Cambria; font-style:normal; color:#141414;
font-weight:normal; text-decoration:none;"><sup>a</sup></font></p></td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">.14</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">.33</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;">.37</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">.40</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">.41</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;">.47</p></td></tr><tr><td
colspan="2" style=" vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal; margin-left:7.2pt; font-style:normal;"><font
style="font-size:8.0pt; font-family:Cambria; font-style:normal; color:#141414; font-weight:normal; text-decoration:none;">Net
realized and unrealized </font><br><font style="font-size:8.0pt; font-family:Cambria; font-style:normal;
color:#141414; font-weight:normal; text-decoration:none;">gain (loss) on investments</font></p></td><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;">(.01)</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">(1.77)</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">.13</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;">(.09)</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">.43</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">(.43)</p></td></tr><tr><td
colspan="2" style=" vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal; margin-left:7.2pt; font-style:normal;"><font
style="font-size:8.0pt; font-family:Cambria; font-style:normal; color:#141414; font-weight:normal; text-decoration:none;">Dividends
to Preferred Stockholders </font><br><font style="font-size:8.0pt; font-family:Cambria; font-style:normal;
color:#141414; font-weight:normal; text-decoration:none;">from net investment income</font></p></td><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;">(.03)</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">(.02)</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; font-style:normal;"><font
style="font-size:8.0pt; font-family:Cambria; font-style:normal; color:#000000; font-weight:normal; text-decoration:none;">(.00)</font><font
style="font-size:8.0pt; font-family:Cambria; font-style:normal; color:#000000; font-weight:normal; text-decoration:none;"><sup>b</sup></font></p></td><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;">(.01)</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">(.03)</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">(.03)</p></td></tr><tr><td
colspan="2" style=" vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal; margin-left:7.2pt; text-decoration:none;">Total
from Investment Operations</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">.10</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;">(1.46)</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">.50</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">.30</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;">.81</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">.01</p></td></tr><tr><td colspan="2" style=" vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414;
text-indent:-7.2pt; font-weight:normal; margin-left:7.2pt; text-decoration:none;">Distributions to Common
Stockholders:</p></td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"
>&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td
colspan="2" style=" vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal; margin-left:7.2pt; font-style:normal;"><font
style="font-size:8.0pt; font-family:Cambria; font-style:normal; color:#141414; font-weight:normal; text-decoration:none;">Dividends
from net investment </font><br><font style="font-size:8.0pt; font-family:Cambria; font-style:normal;
color:#141414; font-weight:normal; text-decoration:none;">income</font></p></td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">(.13)</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">(.35)</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;">(.36)</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">(.36)</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">(.42)</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;">(.43)</p></td></tr><tr><td
colspan="2" style=" vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal; margin-left:7.2pt; font-style:normal;"><font
style="font-size:8.0pt; font-family:Cambria; font-style:normal; color:#141414; font-weight:normal; text-decoration:none;">Net
asset value resulting from Auction </font><br><font style="font-size:8.0pt; font-family:Cambria; font-style:normal;
color:#141414; font-weight:normal; text-decoration:none;">Preferred Stock tender as a discount</font></p></td><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;">-</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">-</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">-</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;">-</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">-</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">.04</p></td></tr><tr><td
colspan="2" style=" vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal; margin-left:7.2pt; text-decoration:none;">Net
asset value, end of period</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">6.54</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;">6.57</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">8.38</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">8.24</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;">8.30</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">7.91</p></td></tr><tr><td colspan="2" style=" vertical-align:bottom;
border-bottom:1pt; border-bottom-style:solid; border-bottom-color:#FFFFFF; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal;
margin-left:7.2pt; text-decoration:none;">Market value, end of period</p></td><td style="vertical-align:bottom;
border-bottom:1pt; border-bottom-style:solid; border-bottom-color:#FFFFFF; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">5.58</p></td><td
style="vertical-align:bottom; border-bottom:1pt; border-bottom-style:solid; border-bottom-color:#FFFFFF;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">5.92</p></td><td style="vertical-align:bottom; border-bottom:1pt;
border-bottom-style:solid; border-bottom-color:#FFFFFF; background-color:#D9D9D9;"><p style="font-size:8.0pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">8.24</p></td><td
style="vertical-align:bottom; border-bottom:1pt; border-bottom-style:solid; border-bottom-color:#FFFFFF;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">7.66</p></td><td style="vertical-align:bottom; border-bottom:1pt;
border-bottom-style:solid; border-bottom-color:#FFFFFF; background-color:#D9D9D9;"><p style="font-size:8.0pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">8.19</p></td><td
style="vertical-align:bottom; border-bottom:1pt; border-bottom-style:solid; border-bottom-color:#FFFFFF;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">7.13</p></td></tr><tr><td colspan="2" style=" vertical-align:bottom;
border-top:1pt; border-top-style:solid; border-top-color:#FFFFFF; background-color:#D9D9D9;"><p style="font-size:12.0pt;
font-family:Cambria; text-align:left; color:#000000; text-indent:-7.2pt; font-weight:bold; margin-left:7.2pt;
font-style:normal;"><font style="font-size:8.0pt; font-family:Cambria; font-style:normal; color:#000000;
font-weight:bold; text-decoration:none;">Market Price Total Return (%)</font></p></td><td style="vertical-align:bottom;
border-top:1pt; border-top-style:solid; border-top-color:#FFFFFF; background-color:#D9D9D9;"><p style="font-size:8.0pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; font-style:normal;"><font style="font-size:8.0pt;
font-family:Cambria; font-style:normal; color:#000000; font-weight:normal; text-decoration:none;">(3.59)</font><font
style="font-size:8.0pt; font-family:Cambria; font-style:normal; color:#000000; font-weight:normal; text-decoration:none;"><sup>c</sup></font></p></td><td
style="vertical-align:bottom; border-top:1pt; border-top-style:solid; border-top-color:#FFFFFF; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">(24.21)</p></td><td
style="vertical-align:bottom; border-top:1pt; border-top-style:solid; border-top-color:#FFFFFF; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">12.46</p></td><td
style="vertical-align:bottom; border-top:1pt; border-top-style:solid; border-top-color:#FFFFFF; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">(1.87)</p></td><td
style="vertical-align:bottom; border-top:1pt; border-top-style:solid; border-top-color:#FFFFFF; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">21.12</p></td><td
style="vertical-align:bottom; border-top:1pt; border-top-style:solid; border-top-color:#FFFFFF; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">(10.14)</p></td></tr></table>
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<p style="font-size:8.0pt; font-family:Arial; text-align:center; font-weight:bold; text-decoration:none;">27</p>

<!-- Field: Rule-Page --><div style="margin: 3pt auto; width: 25%"><div style="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</div></div><!-- Field: /Rule-Page -->
<p style="page-break-before:always;"></p>

<p style="font-size:9.0pt; font-family:Arial; text-align:left; font-weight:normal; font-style:normal;"><font
style="font-size:9.0pt; font-family:Arial; font-style:italic; font-weight:normal; text-decoration:none;">FINANCIAL
HIGHLIGHTS (continued)</font></p>
<!-- PAGEBREAK_END -->
<table cellspacing="0" style="border-collapse:collapse" width="100%" cellpadding="0" style="clear:both"><tr
style="font-size:1pt;"><td style="width:25.64%;" >&nbsp;</td><td style="width:14.36%;" >&nbsp;</td><td
style="width:10%;" >&nbsp;</td><td style="width:10%;" >&nbsp;</td><td style="width:10%;" >&nbsp;</td><td
style="width:10%;" >&nbsp;</td><td style="width:10%;" >&nbsp;</td><td style="width:10%;" >&nbsp;</td></tr><tr><td
style="vertical-align:bottom; border-top:1.5pt; border-top-style:solid; border-top-color:#000000; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td colspan="2" style=" vertical-align:top; border-top:1.5pt; border-top-style:solid;
border-top-color:#000000; background-color:#D9D9D9;"><p style="font-size:7.5pt; font-family:Cambria;
text-align:right; color:#141414; font-weight:normal; text-decoration:none;">Six Months Ended</p></td><td
colspan="5" style=" vertical-align:bottom; border-top:1.5pt; border-top-style:solid; border-top-color:#000000;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td colspan="3" style=" vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">May 31, 2023</p></td><td colspan="5" style=" vertical-align:bottom;
border-bottom:0.5pt; border-bottom-style:solid; border-bottom-color:#000000; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:center; color:#000000; font-weight:normal; text-decoration:none;">Year
Ended November 30,</p></td></tr><tr><td colspan="3" style=" vertical-align:bottom; border-bottom:0.5pt;
border-bottom-style:solid; border-bottom-color:#000000; background-color:#D9D9D9;"><p style="font-size:8.0pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">(Unaudited)</p></td><td
style="vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid; border-bottom-color:#000000;
border-top:0.5pt; border-top-style:solid; border-top-color:#000000; background-color:#D9D9D9;"><p style="font-size:8.0pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">2022</p></td><td
style="vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid; border-bottom-color:#000000;
border-top:0.5pt; border-top-style:solid; border-top-color:#000000; background-color:#D9D9D9;"><p style="font-size:8.0pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">2021</p></td><td
style="vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid; border-bottom-color:#000000;
border-top:0.5pt; border-top-style:solid; border-top-color:#000000; background-color:#D9D9D9;"><p style="font-size:8.0pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">2020</p></td><td
style="vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid; border-bottom-color:#000000;
border-top:0.5pt; border-top-style:solid; border-top-color:#000000; background-color:#D9D9D9;"><p style="font-size:8.0pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">2019</p></td><td
style="vertical-align:bottom; border-bottom:0.5pt; border-bottom-style:solid; border-bottom-color:#000000;
border-top:0.5pt; border-top-style:solid; border-top-color:#000000; background-color:#D9D9D9;"><p style="font-size:8.0pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">2018</p></td></tr><tr><td
colspan="2" style=" vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:12.0pt; font-family:Cambria;
text-align:left; color:#000000; text-indent:-7.2pt; font-weight:bold; margin-left:7.2pt; font-style:normal;"><font
style="font-size:8.0pt; font-family:Cambria; font-style:normal; color:#000000; font-weight:bold; text-decoration:none;">Ratios/Supplemental
Data (%):</font></p></td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"
>&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"
>&nbsp;</td></tr><tr><td colspan="2" style=" vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt;
font-family:Cambria; text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal; margin-left:7.2pt;
font-style:normal;"><font style="font-size:8.0pt; font-family:Cambria; font-style:normal; color:#141414;
font-weight:normal; text-decoration:none;">Ratio of total expenses to </font><br><font style="font-size:8.0pt;
font-family:Cambria; font-style:normal; color:#141414; font-weight:normal; text-decoration:none;">average
net assets </font><br><font style="font-size:8.0pt; font-family:Cambria; font-style:normal; color:#141414;
font-weight:normal; text-decoration:none;">applicable to Common Stock</font><font style="font-size:8.0pt;
font-family:Cambria; font-style:normal; color:#141414; font-weight:normal; text-decoration:none;"><sup>d</sup></font></p></td><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; font-style:normal;"><font style="font-size:8.0pt;
font-family:Cambria; font-style:normal; color:#000000; font-weight:normal; text-decoration:none;">2.12</font><font
style="font-size:8.0pt; font-family:Cambria; font-style:normal; color:#000000; font-weight:normal; text-decoration:none;"><sup>e</sup></font></p></td><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;">1.54</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">1.20</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">1.56</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;">1.86</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">1.73</p></td></tr><tr><td colspan="2" style=" vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414;
text-indent:-7.2pt; font-weight:normal; margin-left:7.2pt; font-style:normal;"><font style="font-size:8.0pt;
font-family:Cambria; font-style:normal; color:#141414; font-weight:normal; text-decoration:none;">Ratio
of net expenses to </font><br><font style="font-size:8.0pt; font-family:Cambria; font-style:normal; color:#141414;
font-weight:normal; text-decoration:none;">average net assets </font><br><font style="font-size:8.0pt;
font-family:Cambria; font-style:normal; color:#141414; font-weight:normal; text-decoration:none;">applicable
to Common Stock</font><font style="font-size:8.0pt; font-family:Cambria; font-style:normal; color:#141414;
font-weight:normal; text-decoration:none;"><sup>d</sup></font></p></td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; font-style:normal;"><font style="font-size:8.0pt; font-family:Cambria; font-style:normal;
color:#000000; font-weight:normal; text-decoration:none;">2.00</font><font style="font-size:8.0pt; font-family:Cambria;
font-style:normal; color:#000000; font-weight:normal; text-decoration:none;"><sup>e</sup></font></p></td><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;">1.43</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">1.09</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">1.44</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;">1.75</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">1.62</p></td></tr><tr><td colspan="2" style=" vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414;
text-indent:-7.2pt; font-weight:normal; margin-left:7.2pt; font-style:normal;"><font style="font-size:8.0pt;
font-family:Cambria; font-style:normal; color:#141414; font-weight:normal; text-decoration:none;">Ratio
of interest and expense related to </font><br><font style="font-size:8.0pt; font-family:Cambria; font-style:normal;
color:#141414; font-weight:normal; text-decoration:none;">floating rate notes issued to average net </font><br><font
style="font-size:8.0pt; font-family:Cambria; font-style:normal; color:#141414; font-weight:normal; text-decoration:none;">assets
applicable to Common Stock</font><font style="font-size:8.0pt; font-family:Cambria; font-style:normal;
color:#141414; font-weight:normal; text-decoration:none;"><sup>d</sup></font></p></td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; font-style:normal;"><font style="font-size:8.0pt; font-family:Cambria; font-style:normal;
color:#000000; font-weight:normal; text-decoration:none;">1.12</font><font style="font-size:8.0pt; font-family:Cambria;
font-style:normal; color:#000000; font-weight:normal; text-decoration:none;"><sup>e</sup></font></p></td><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;">.56</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">.25</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">.60</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;">.90</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">.72</p></td></tr><tr><td colspan="2" style=" vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414;
text-indent:-7.2pt; font-weight:normal; margin-left:7.2pt; font-style:normal;"><font style="font-size:8.0pt;
font-family:Cambria; font-style:normal; color:#141414; font-weight:normal; text-decoration:none;">Ratio
of net investment income to </font><br><font style="font-size:8.0pt; font-family:Cambria; font-style:normal;
color:#141414; font-weight:normal; text-decoration:none;">average net assets </font><br><font style="font-size:8.0pt;
font-family:Cambria; font-style:normal; color:#141414; font-weight:normal; text-decoration:none;">applicable
to Common Stock</font><font style="font-size:8.0pt; font-family:Cambria; font-style:normal; color:#141414;
font-weight:normal; text-decoration:none;"><sup>d</sup></font></p></td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; font-style:normal;"><font style="font-size:8.0pt; font-family:Cambria; font-style:normal;
color:#000000; font-weight:normal; text-decoration:none;">4.12</font><font style="font-size:8.0pt; font-family:Cambria;
font-style:normal; color:#000000; font-weight:normal; text-decoration:none;"><sup>e</sup></font></p></td><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;">4.64</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">4.39</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">4.98</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;">5.05</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">5.78</p></td></tr><tr><td colspan="2" style=" vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414;
text-indent:-7.2pt; font-weight:normal; margin-left:7.2pt; font-style:normal;"><font style="font-size:8.0pt;
font-family:Cambria; font-style:normal; color:#141414; font-weight:normal; text-decoration:none;">Ratio
of total expenses to </font><br><font style="font-size:8.0pt; font-family:Cambria; font-style:normal;
color:#141414; font-weight:normal; text-decoration:none;">total average net assets</font></p></td><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; font-style:normal;"><font style="font-size:8.0pt;
font-family:Cambria; font-style:normal; color:#000000; font-weight:normal; text-decoration:none;">1.84</font><font
style="font-size:8.0pt; font-family:Cambria; font-style:normal; color:#000000; font-weight:normal; text-decoration:none;"><sup>e</sup></font></p></td><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;">1.35</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">1.07</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">1.38</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;">1.66</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">1.51</p></td></tr><tr><td colspan="2" style=" vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414;
text-indent:-7.2pt; font-weight:normal; margin-left:7.2pt; font-style:normal;"><font style="font-size:8.0pt;
font-family:Cambria; font-style:normal; color:#141414; font-weight:normal; text-decoration:none;">Ratio
of net expenses to </font><br><font style="font-size:8.0pt; font-family:Cambria; font-style:normal; color:#141414;
font-weight:normal; text-decoration:none;">total average net assets</font></p></td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; font-style:normal;"><font style="font-size:8.0pt; font-family:Cambria; font-style:normal;
color:#000000; font-weight:normal; text-decoration:none;">1.74</font><font style="font-size:8.0pt; font-family:Cambria;
font-style:normal; color:#000000; font-weight:normal; text-decoration:none;"><sup>e</sup></font></p></td><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;">1.25</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">.97</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">1.28</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;">1.56</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">1.41</p></td></tr><tr><td colspan="2" style=" vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414;
text-indent:-7.2pt; font-weight:normal; margin-left:7.2pt; font-style:normal;"><font style="font-size:8.0pt;
font-family:Cambria; font-style:normal; color:#141414; font-weight:normal; text-decoration:none;">Ratio
of interest and expense related to </font><br><font style="font-size:8.0pt; font-family:Cambria; font-style:normal;
color:#141414; font-weight:normal; text-decoration:none;">floating rate notes issued to </font><br><font
style="font-size:8.0pt; font-family:Cambria; font-style:normal; color:#141414; font-weight:normal; text-decoration:none;">total
average net assets</font></p></td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; font-style:normal;"><font style="font-size:8.0pt;
font-family:Cambria; font-style:normal; color:#000000; font-weight:normal; text-decoration:none;">.97</font><font
style="font-size:8.0pt; font-family:Cambria; font-style:normal; color:#000000; font-weight:normal; text-decoration:none;"><sup>e</sup></font></p></td><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;">.49</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">.23</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">.53</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;">.80</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">.63</p></td></tr><tr><td colspan="2" style=" vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414;
text-indent:-7.2pt; font-weight:normal; margin-left:7.2pt; font-style:normal;"><font style="font-size:8.0pt;
font-family:Cambria; font-style:normal; color:#141414; font-weight:normal; text-decoration:none;">Ratio
of net investment income to </font><br><font style="font-size:8.0pt; font-family:Cambria; font-style:normal;
color:#141414; font-weight:normal; text-decoration:none;">total average net assets</font></p></td><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; font-style:normal;"><font style="font-size:8.0pt;
font-family:Cambria; font-style:normal; color:#000000; font-weight:normal; text-decoration:none;">3.58</font><font
style="font-size:8.0pt; font-family:Cambria; font-style:normal; color:#000000; font-weight:normal; text-decoration:none;"><sup>e</sup></font></p></td><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;">4.07</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">3.92</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">4.43</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;">4.50</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">5.02</p></td></tr><tr><td colspan="2" style=" vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414;
text-indent:-7.2pt; font-weight:normal; margin-left:7.2pt; text-decoration:none;">Portfolio Turnover
Rate</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; font-style:normal;"><font style="font-size:8.0pt;
font-family:Cambria; font-style:normal; color:#000000; font-weight:normal; text-decoration:none;">20.09</font><font
style="font-size:8.0pt; font-family:Cambria; font-style:normal; color:#000000; font-weight:normal; text-decoration:none;"><sup>c</sup></font></p></td><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;">30.58</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">9.10</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">26.56</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;">41.28</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">24.57</p></td></tr><tr><td colspan="2" style=" vertical-align:bottom;
border-bottom:1pt; border-bottom-style:solid; border-bottom-color:#FFFFFF; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal;
margin-left:7.2pt; font-style:normal;"><font style="font-size:8.0pt; font-family:Cambria; font-style:normal;
color:#141414; font-weight:normal; text-decoration:none;">Asset Coverage of Preferred Stock,</font><br><font
style="font-size:8.0pt; font-family:Cambria; font-style:normal; color:#141414; font-weight:normal; text-decoration:none;">end
of period</font></p></td><td style="vertical-align:bottom; border-bottom:1pt; border-bottom-style:solid;
border-bottom-color:#FFFFFF; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:right; color:#141414; font-weight:normal; text-decoration:none;">756</p></td><td style="vertical-align:bottom;
border-bottom:1pt; border-bottom-style:solid; border-bottom-color:#FFFFFF; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#141414; font-weight:normal; text-decoration:none;">759</p></td><td
style="vertical-align:bottom; border-bottom:1pt; border-bottom-style:solid; border-bottom-color:#FFFFFF;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#141414;
font-weight:normal; text-decoration:none;">940</p></td><td style="vertical-align:bottom; border-bottom:1pt;
border-bottom-style:solid; border-bottom-color:#FFFFFF; background-color:#D9D9D9;"><p style="font-size:8.0pt;
font-family:Cambria; text-align:right; color:#141414; font-weight:normal; text-decoration:none;">926</p></td><td
style="vertical-align:bottom; border-bottom:1pt; border-bottom-style:solid; border-bottom-color:#FFFFFF;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#141414;
font-weight:normal; text-decoration:none;">932</p></td><td style="vertical-align:bottom; border-bottom:1pt;
border-bottom-style:solid; border-bottom-color:#FFFFFF; background-color:#D9D9D9;"><p style="font-size:8.0pt;
font-family:Cambria; text-align:right; color:#141414; font-weight:normal; text-decoration:none;">892</p></td></tr><tr><td
colspan="2" style=" vertical-align:bottom; border-top:1pt; border-top-style:solid; border-top-color:#FFFFFF;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414;
text-indent:-7.2pt; font-weight:normal; margin-left:7.2pt; font-style:normal;"><font style="font-size:8.0pt;
font-family:Cambria; font-style:normal; color:#141414; font-weight:normal; text-decoration:none;">Net
Assets, applicable to </font><br><font style="font-size:8.0pt; font-family:Cambria; font-style:normal;
color:#141414; font-weight:normal; text-decoration:none;">Common Stockholders, </font><br><font style="font-size:8.0pt;
font-family:Cambria; font-style:normal; color:#141414; font-weight:normal; text-decoration:none;">end
of period ($ x 1,000)</font></p></td><td style="vertical-align:bottom; border-top:1pt; border-top-style:solid;
border-top-color:#FFFFFF; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;">323,351</p></td><td style="vertical-align:bottom;
border-top:1pt; border-top-style:solid; border-top-color:#FFFFFF; background-color:#D9D9D9;"><p style="font-size:8.0pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">324,663</p></td><td
style="vertical-align:bottom; border-top:1pt; border-top-style:solid; border-top-color:#FFFFFF; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">414,262</p></td><td
style="vertical-align:bottom; border-top:1pt; border-top-style:solid; border-top-color:#FFFFFF; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">407,089</p></td><td
style="vertical-align:bottom; border-top:1pt; border-top-style:solid; border-top-color:#FFFFFF; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">409,972</p></td><td
style="vertical-align:bottom; border-top:1pt; border-top-style:solid; border-top-color:#FFFFFF; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">390,350</p></td></tr><tr><td
colspan="2" style=" vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal; margin-left:7.2pt; font-style:normal;"><font
style="font-size:8.0pt; font-family:Cambria; font-style:normal; color:#141414; font-weight:normal; text-decoration:none;">Preferred
Stock Outstanding, </font><br><font style="font-size:8.0pt; font-family:Cambria; font-style:normal; color:#141414;
font-weight:normal; text-decoration:none;">end of period ($ x 1,000)</font></p></td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">49,300</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">49,300</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;">49,300</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">49,300</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">49,300</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;">49,300</p></td></tr><tr><td
colspan="2" style=" vertical-align:bottom; border-bottom:1.5pt; border-bottom-style:solid; border-bottom-color:#FFFFFF;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414;
text-indent:-7.2pt; font-weight:normal; margin-left:7.2pt; font-style:normal;"><font style="font-size:8.0pt;
font-family:Cambria; font-style:normal; color:#141414; font-weight:normal; text-decoration:none;">Floating
Rate Notes Outstanding, </font><br><font style="font-size:8.0pt; font-family:Cambria; font-style:normal;
color:#141414; font-weight:normal; text-decoration:none;">end of period ($ x 1,000)</font></p></td><td
style="vertical-align:bottom; border-bottom:1.5pt; border-bottom-style:solid; border-bottom-color:#FFFFFF;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">102,715</p></td><td style="vertical-align:bottom; border-bottom:1.5pt;
border-bottom-style:solid; border-bottom-color:#FFFFFF; background-color:#D9D9D9;"><p style="font-size:8.0pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">116,415</p></td><td
style="vertical-align:bottom; border-bottom:1.5pt; border-bottom-style:solid; border-bottom-color:#FFFFFF;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">138,705</p></td><td style="vertical-align:bottom; border-bottom:1.5pt;
border-bottom-style:solid; border-bottom-color:#FFFFFF; background-color:#D9D9D9;"><p style="font-size:8.0pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">152,185</p></td><td
style="vertical-align:bottom; border-bottom:1.5pt; border-bottom-style:solid; border-bottom-color:#FFFFFF;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">182,074</p></td><td style="vertical-align:bottom; border-bottom:1.5pt;
border-bottom-style:solid; border-bottom-color:#FFFFFF; background-color:#D9D9D9;"><p style="font-size:8.0pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">162,357</p></td></tr></table><p
style="font-size:8.0pt; font-family:Serif; text-align:left; text-indent:-10.8pt; font-weight:normal;
margin-left:10.8pt; font-style:italic;"><font style="font-size:8.0pt; font-family:Serif; font-style:italic;
font-weight:normal; text-decoration:none;"><sup>a</sup></font><font style="word-spacing:6.4pt;">&#160;</font><font
style="font-size:8.0pt; font-family:Serif; font-style:italic; font-weight:normal; text-decoration:none;">Based
on average common shares outstanding.</font></p><p style="font-size:8.0pt; font-family:Serif; text-align:left;
text-indent:-10.8pt; font-weight:normal; margin-left:10.8pt; font-style:italic;"><font style="font-size:8.0pt;
font-family:Serif; font-style:italic; font-weight:normal; text-decoration:none;"><sup>b</sup></font><font
style="word-spacing:6.4pt;">&#160;</font><font style="font-size:8.0pt; font-family:Serif; font-style:italic;
font-weight:normal; text-decoration:none;">Amount represents less than $.01 per share.</font></p><p style="font-size:8.0pt;
font-family:Serif; text-align:left; text-indent:-10.8pt; font-weight:normal; margin-left:10.8pt; font-style:italic;"><font
style="font-size:8.0pt; font-family:Serif; font-style:italic; font-weight:normal; text-decoration:none;"><sup>c</sup></font><font
style="word-spacing:6.4pt;">&#160;</font><font style="font-size:8.0pt; font-family:Serif; font-style:italic;
font-weight:normal; text-decoration:none;">Not annualized.</font></p><p style="font-size:8.0pt; font-family:Serif;
text-align:left; text-indent:-10.8pt; font-weight:normal; margin-left:10.8pt; font-style:italic;"><font
style="font-size:8.0pt; font-family:Serif; font-style:italic; font-weight:normal; text-decoration:none;"><sup>d</sup></font><font
style="word-spacing:6.4pt;">&#160;</font><font style="font-size:8.0pt; font-family:Serif; font-style:italic;
font-weight:normal; text-decoration:none;">Does not reflect the effect of dividends to Preferred Stockholders.</font></p><p
style="font-size:8.0pt; font-family:Serif; text-align:left; text-indent:-10.8pt; font-weight:normal;
margin-left:10.8pt; font-style:italic;"><font style="font-size:8.0pt; font-family:Serif; font-style:italic;
font-weight:normal; text-decoration:none;"><sup>e</sup></font><font style="word-spacing:6.4pt;">&#160;</font><font
style="font-size:8.0pt; font-family:Serif; font-style:italic; font-weight:normal; text-decoration:none;">Annualized.</font></p><p
style="font-size:8.0pt; font-family:Serif; text-align:left; text-indent:-10.8pt; font-weight:normal;
margin-left:10.8pt; text-decoration:none; font-style:italic;">See notes to financial statements.</p>
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<p style="font-size:8.0pt; font-family:Arial; text-align:center; font-weight:bold; text-decoration:none;">28</p>

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<p style="page-break-before:always;"></p>

<p style="font-size:11.5pt; font-family:Arial; text-align:left; font-weight:normal; font-style:normal;"><font
style="font-size:11.5pt; font-family:Arial; font-style:normal; font-weight:normal; text-decoration:none;">NOTES
TO FINANCIAL STATEMENTS </font><font style="font-size:10.0pt; font-family:Arial; font-style:normal; font-weight:normal;
text-decoration:none;">(Unaudited)</font></p>
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<p style="font-size:10.0pt; font-family:Arial; text-align:left; font-weight:bold; font-style:normal;"><font
style="font-size:4.0pt; font-family:Arial; font-style:normal; font-weight:bold; text-decoration:none;">
</font><a name="8"></a><font style="font-size:10.0pt; font-family:Arial; font-style:normal; font-weight:bold;
text-decoration:none;"> </font><font style="font-size:10.0pt; font-family:Arial; font-style:normal; font-weight:bold;
text-decoration:none;">NOTE 1&#8212;Significant Accounting Policies:</font></p><p style="font-size:10.5pt;
font-family:Serif; font-style:normal; text-align:justify; font-weight:normal; text-decoration:none;">BNY
Mellon Strategic Municipal Bond Fund, Inc. (the &#8220;fund&#8221;), which is registered under the Investment
Company Act of 1940, as amended (the &#8220;Act&#8221;), is a diversified closed-end management investment company.
The fund&#8217;s investment objective is to seek to maximize current income exempt from federal income tax
to the extent consistent with the preservation of capital. BNY Mellon Investment Adviser, Inc. (the &#8220;Adviser&#8221;),
a wholly-owned subsidiary of The Bank of New York Mellon Corporation (&#8220;BNY Mellon&#8221;), serves as the
fund&#8217;s investment adviser. Insight North America LLC (the &#8220;Sub-Adviser&#8221;), an indirect wholly-owned
subsidiary of BNY Mellon and an affiliate of the Adviser, serves as the fund&#8217;s sub-adviser.  The fund&#8217;s
Common Stock trades on the New York Stock Exchange (the &#8220;NYSE&#8221;) under the ticker symbol DSM.</p><p
style="font-size:10.5pt; font-family:Serif; font-style:normal; text-align:justify; font-weight:normal;
text-decoration:none;">The fund has outstanding 698 Series A shares, 662 Series B shares and 612 Series
C shares, Auction Preferred Stock (&#8220;APS&#8221;), with a liquidation preference of $25,000 per share (plus
an amount equal to accumulated but unpaid dividends upon liquidation). APS dividend rates are determined
pursuant to periodic auctions or by reference to a market rate. Deutsche Bank Trust Company America,
as the Auction Agent, receives a fee from the fund for its services in connection with such auctions.
The fund also compensates broker-dealers generally at an annual rate of .15%-.25% of the purchase price
of shares of APS.</p><p style="font-size:10.5pt; font-family:Serif; font-style:normal; text-align:justify;
font-weight:normal; text-decoration:none;">The fund is subject to certain restrictions relating to the
APS. Failure to comply with these restrictions could preclude the fund from declaring any distributions
to stockholders of Common Stock (&#8220;Common Stockholders&#8221;) or repurchasing shares of Common Stock and/or
could trigger the mandatory redemption of APS at liquidation value. Thus, redemptions of APS may be deemed
to be outside of the control of the fund. </p><p style="font-size:10.5pt; font-family:Serif; font-style:normal;
text-align:justify; font-weight:normal; text-decoration:none;">The holders of APS, voting as a separate
class, have the right to elect at least two directors. The holders of APS will vote as a separate class
on certain other matters, as required by law. The fund&#8217;s Board of Directors (the &#8220;Board&#8221;) has designated
Joni Evans and Robin A. Melvin as directors to be elected by the holders of APS.</p><p style="font-size:10.5pt;
font-family:Serif; font-style:normal; text-align:justify; font-weight:normal; text-decoration:none;">The
Financial Accounting Standards Board (&#8220;FASB&#8221;) Accounting Standards Codification (&#8220;ASC&#8221;) is the
exclusive reference of authoritative U.S. generally accepted accounting principles (&#8220;GAAP&#8221;) recognized
by the FASB to be applied by nongovernmental entities. Rules and interpretive releases of the Securities
and Exchange Commission (&#8220;SEC&#8221;) under authority of federal laws are also sources of authoritative
GAAP for SEC </p>
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<p style="font-size:8.0pt; font-family:Arial; text-align:center; font-weight:bold; text-decoration:none;">29</p>

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<p style="font-size:9.0pt; font-family:Arial; text-align:left; font-weight:normal; font-style:normal;"><font
style="font-size:9.0pt; font-family:Arial; font-style:normal; font-weight:normal; text-decoration:none;">NOTES
TO FINANCIAL STATEMENTS (Unaudited) </font><font style="font-size:9.0pt; font-family:Arial; font-style:italic;
font-weight:normal; text-decoration:none;">(continued)</font></p>
<!-- PAGEBREAK_END -->
<p style="font-size:10.5pt; font-family:Serif; font-style:normal; text-align:justify; font-weight:normal;
text-decoration:none;">registrants. The fund is an investment company and applies the accounting and
reporting guidance of the FASB ASC Topic 946 Financial Services-Investment Companies. The fund&#8217;s financial
statements are prepared in accordance with GAAP, which may require the use of management estimates and
assumptions. Actual results could differ from those estimates.</p><p style="font-size:10.5pt; font-family:Serif;
text-align:justify; font-weight:normal; font-style:normal;"><font style="font-size:10.5pt; font-family:Serif;
font-style:normal; font-weight:normal; text-decoration:none;">The fund</font><font style="font-size:10.5pt;
font-family:Serif; font-style:normal; color:#FF0000; font-weight:normal; text-decoration:none;"> </font><font
style="font-size:10.5pt; font-family:Serif; font-style:normal; font-weight:normal; text-decoration:none;">enters
into contracts that contain a variety of indemnifications. The fund&#8217;s maximum exposure under these
arrangements is unknown. The fund does not anticipate recognizing any loss related to these arrangements.
</font></p><p style="font-size:10.5pt; font-family:Serif; text-align:justify; font-weight:normal; font-style:normal;"><font
style="font-size:10.5pt; font-family:Serif; font-style:normal; font-weight:bold; text-decoration:none;">(a)
Portfolio valuation:</font><font style="font-size:10.5pt; font-family:Serif; font-style:normal; font-weight:normal;
text-decoration:none;"> The fair value of a financial instrument is the amount that would be received
to sell an asset or paid to transfer a liability in an orderly transaction between market participants
at the measurement date (i.e., the exit price). GAAP establishes a fair value hierarchy that prioritizes
the inputs of valuation techniques used to measure fair value. This hierarchy gives the highest priority
to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements)
and the lowest priority to unobservable inputs (Level 3 measurements).</font></p><p style="font-size:10.5pt;
font-family:Serif; font-style:normal; text-align:justify; font-weight:normal; text-decoration:none;">Additionally,
GAAP provides guidance on determining whether the volume and activity in a market has decreased significantly
and whether such a decrease in activity results in transactions that are not orderly. GAAP requires enhanced
disclosures around valuation inputs and techniques used during annual and interim periods.</p><p style="font-size:10.5pt;
font-family:Serif; font-style:normal; text-align:justify; font-weight:normal; text-decoration:none;">Various
inputs are used in determining the value of the fund&#8217;s investments relating to fair value measurements.
These inputs are summarized in the three broad levels listed below:</p><p style="font-size:10.5pt; font-family:Serif;
text-align:justify; font-weight:normal; margin-left:18.0pt; font-style:normal;"><font style="font-size:10.5pt;
font-family:Serif; font-style:normal; font-weight:bold; text-decoration:none;">Level 1</font><font style="font-size:10.5pt;
font-family:Serif; font-style:normal; font-weight:normal; text-decoration:none;">&#8212;unadjusted quoted
prices in active markets for identical investments.</font></p><p style="font-size:10.5pt; font-family:Serif;
text-align:justify; font-weight:normal; margin-left:18.0pt; font-style:normal;"><font style="font-size:10.5pt;
font-family:Serif; font-style:normal; font-weight:bold; text-decoration:none;">Level 2</font><font style="font-size:10.5pt;
font-family:Serif; font-style:normal; font-weight:normal; text-decoration:none;">&#8212;other significant
observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds,
credit risk, etc.).</font></p><p style="font-size:10.5pt; font-family:Serif; text-align:justify; font-weight:normal;
margin-left:18.0pt; font-style:normal;"><font style="font-size:10.5pt; font-family:Serif; font-style:normal;
font-weight:bold; text-decoration:none;">Level 3</font><font style="font-size:10.5pt; font-family:Serif;
font-style:normal; font-weight:normal; text-decoration:none;">&#8212;significant unobservable inputs (including
the fund&#8217;s own assumptions in determining the fair value of investments).</font></p><p style="font-size:10.5pt;
font-family:Serif; font-style:normal; text-align:justify; font-weight:normal; text-decoration:none;">The
inputs or methodology used for valuing securities are not necessarily an indication of the risk associated
with investing in those securities.</p><p style="font-size:10.5pt; font-family:Serif; font-style:normal;
text-align:justify; font-weight:normal; text-decoration:none;">Changes in valuation techniques may result
in transfers in or out of an assigned level within the disclosure hierarchy. Valuation techniques used
to value the fund&#8217;s investments are as follows:</p>
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<p style="font-size:8.0pt; font-family:Arial; text-align:center; font-weight:bold; text-decoration:none;">30</p>

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<p style="font-size:10.5pt; font-family:Serif; font-style:normal; text-align:justify; font-weight:normal;
text-decoration:none;">The Board has designated Adviser as the fund&#8217;s valuation designee to make all
fair value determinations with respect to the fund&#8217;s portfolio investments, subject to the Board&#8217;s
oversight and pursuant to Rule 2a-5 under the Act.</p><p style="font-size:10.5pt; font-family:Serif;
font-style:normal; text-align:justify; font-weight:normal; text-decoration:none;">Investments in municipal
securities are valued each business day by an independent pricing service (the &#8220;Service&#8221;) approved
by the Board. Investments for which quoted bid prices are readily available and are representative of
the bid side of the market in the judgment of the Service are valued at the mean between the quoted bid
prices (as obtained by the Service from dealers in such securities) and asked prices (as calculated by
the Service based upon its evaluation of the market for such securities). Municipal investments (which
constitute a majority of the portfolio securities) are carried at fair value as determined by the Service,
based on methods which include consideration of the following: yields or prices of municipal securities
of comparable quality, coupon, maturity and type; indications as to values from dealers; and general
market conditions. The Service is engaged under the general oversight of the Board. All of the preceding
securities are generally categorized within Level 2 of the fair value hierarchy.</p><p style="font-size:10.5pt;
font-family:Serif; font-style:normal; text-align:justify; font-weight:normal; text-decoration:none;">When
market quotations or official closing prices are not readily available, or are determined not to accurately
reflect fair value, such as when the value of a security has been significantly affected by events after
the close of the exchange or market on which the security is principally traded, but before the fund
calculates its net asset value, the fund may value these investments at fair value as determined in accordance
with the procedures approved by the Board. Certain factors may be considered when fair valuing investments
such as: fundamental analytical data, the nature and duration of restrictions on disposition, an evaluation
of the forces that influence the market in which the securities are purchased and sold, and public trading
in similar securities of the issuer or comparable issuers. These securities are either categorized within
Level 2 or 3 of the fair value hierarchy depending on the relevant inputs used.</p><p style="font-size:10.5pt;
font-family:Serif; font-style:normal; text-align:justify; font-weight:normal; text-decoration:none;">For
securities where observable inputs are limited, assumptions about market activity and risk are used and
such securities are generally categorized within Level 3 of the fair value hierarchy.</p><p style="font-size:10.5pt;
font-family:Serif; text-align:justify; font-weight:normal; font-style:normal;"><font style="font-size:10.5pt;
font-family:Serif; font-style:normal; font-weight:normal; text-decoration:none;">The following is a summary
of the inputs used as of May 31, 2023</font><font style="font-size:10.5pt; font-family:Serif; font-style:normal;
color:#FF0000; font-weight:normal; text-decoration:none;"> </font><font style="font-size:10.5pt; font-family:Serif;
font-style:normal; font-weight:normal; text-decoration:none;">in valuing the fund&#8217;s investments:</font></p>
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<p style="font-size:8.0pt; font-family:Arial; text-align:center; font-weight:bold; text-decoration:none;">31</p>

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<p style="font-size:9.0pt; font-family:Arial; text-align:left; font-weight:normal; font-style:normal;"><font
style="font-size:9.0pt; font-family:Arial; font-style:normal; font-weight:normal; text-decoration:none;">NOTES
TO FINANCIAL STATEMENTS (Unaudited) </font><font style="font-size:9.0pt; font-family:Arial; font-style:italic;
font-weight:normal; text-decoration:none;">(continued)</font></p>
<!-- PAGEBREAK_END -->
<table cellspacing="0" style="border-collapse:collapse" width="100%" cellpadding="0" style="clear:both"><tr
style="font-size:1pt;"><td style="width:22.9%;" >&nbsp;</td><td style="width:17.93%;" >&nbsp;</td><td
style="width:17.93%;" >&nbsp;</td><td style="width:2.92%;" >&nbsp;</td><td style="width:16.93%;" >&nbsp;</td><td
style="width:19.91%;" >&nbsp;</td><td style="width:1.49%;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom;
border-bottom:1pt; border-bottom-style:solid; border-bottom-color:#000000; font-size:1pt;" >&nbsp;</td><td
style="vertical-align:bottom; border-bottom:1pt; border-bottom-style:solid; border-bottom-color:#000000;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">Level
1-Unadjusted Quoted Prices</p></td><td style="vertical-align:bottom; border-bottom:1pt; border-bottom-style:solid;
border-bottom-color:#000000;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">Level 2- Other Significant Observable Inputs</p></td><td style="vertical-align:bottom;
border-bottom:1pt; border-bottom-style:solid; border-bottom-color:#000000; font-size:1pt;" >&nbsp;</td><td
style="vertical-align:bottom; border-bottom:1pt; border-bottom-style:solid; border-bottom-color:#000000;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">Level
3-Significant Unobservable Inputs</p></td><td style="vertical-align:bottom; border-bottom:1pt; border-bottom-style:solid;
border-bottom-color:#000000;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:bold; text-decoration:none;">Total</p></td><td style="vertical-align:top; border-bottom:1pt;
border-bottom-style:solid; border-bottom-color:#000000; font-size:1pt;" >&nbsp;</td></tr><tr><td colspan="5"
style=" vertical-align:bottom;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#000000;
text-indent:-7.2pt; font-weight:bold; margin-left:7.2pt; text-decoration:none;">Assets ($)&#8197;</p></td><td
style="vertical-align:bottom; font-size:1pt;" >&nbsp;</td><td style="vertical-align:top; font-size:1pt;"
>&nbsp;</td></tr><tr><td colspan="5" style=" vertical-align:bottom;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; color:#000000; text-indent:-7.2pt; font-weight:bold; margin-left:7.2pt; font-style:normal;"><font
style="font-size:8.0pt; font-family:Cambria; font-style:normal; color:#000000; font-weight:normal; text-decoration:none;">Investments
in Securities:</font><font style="font-size:8.0pt; font-family:Cambria; font-style:normal; color:#000000;
font-weight:normal; text-decoration:none;"><sup>&#8224;</sup></font><font style="font-size:8.0pt; font-family:Cambria;
font-style:normal; color:#000000; font-weight:bold; text-decoration:none;">&#8197;</font></p></td><td style="vertical-align:bottom;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:top; font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal;
margin-left:7.2pt; text-decoration:none;">Collateralized Municipal-Backed Securities</p></td><td style="vertical-align:bottom;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">-</p></td><td
style="vertical-align:bottom;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">1,112,721</p></td><td style="vertical-align:bottom; font-size:1pt;"
>&nbsp;</td><td style="vertical-align:bottom;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right;
color:#141414; font-weight:normal; text-decoration:none;">-</p></td><td style="vertical-align:bottom;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#141414; font-weight:bold; text-decoration:none;">1,112,721</p></td><td
style="vertical-align:top; font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal;
margin-left:7.2pt; text-decoration:none;">Municipal Securities</p></td><td style="vertical-align:bottom;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">-</p></td><td
style="vertical-align:bottom;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">469,978,936</p></td><td style="vertical-align:bottom; font-size:1pt;"
>&nbsp;</td><td style="vertical-align:bottom;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right;
color:#141414; font-weight:normal; text-decoration:none;">-</p></td><td style="vertical-align:bottom;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#141414; font-weight:bold; text-decoration:none;">469,978,936</p></td><td
style="vertical-align:top; font-size:1pt;" >&nbsp;</td></tr><tr><td colspan="5" style=" vertical-align:bottom;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#000000; text-indent:-7.2pt; font-weight:bold;
margin-left:7.2pt; text-decoration:none;">Liabilities ($)</p></td><td style="vertical-align:bottom; font-size:1pt;"
>&nbsp;</td><td style="vertical-align:top; font-size:1pt;" >&nbsp;</td></tr><tr><td colspan="5" style="
vertical-align:bottom;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#000000;
text-indent:-7.2pt; font-weight:normal; margin-left:7.2pt; text-decoration:none;">Other Financial Instruments:</p></td><td
style="vertical-align:bottom; font-size:1pt;" >&nbsp;</td><td style="vertical-align:top; font-size:1pt;"
>&nbsp;</td></tr><tr><td style="vertical-align:bottom;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal; margin-left:7.2pt; font-style:normal;"><font
style="font-size:8.0pt; font-family:Cambria; font-style:normal; color:#141414; font-weight:normal; text-decoration:none;">Inverse
Floater Notes</font><font style="font-size:8.0pt; font-family:Cambria; font-style:normal; color:#141414;
font-weight:normal; text-decoration:none;"><sup>&#8224;&#8224;</sup></font></p></td><td style="vertical-align:bottom;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">-</p></td><td
style="vertical-align:bottom;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">(102,715,000)</p></td><td style="vertical-align:bottom; font-size:1pt;"
>&nbsp;</td><td style="vertical-align:bottom;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right;
color:#141414; font-weight:normal; text-decoration:none;">-</p></td><td style="vertical-align:bottom;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#141414; font-weight:bold; text-decoration:none;">(102,715,000)</p></td><td
style="vertical-align:top; font-size:1pt;" >&nbsp;</td></tr></table><p style="font-size:8.0pt; font-family:Serif;
text-align:left; text-indent:-10.8pt; font-weight:normal; margin-left:10.8pt; font-style:italic;"><font
style="font-size:8.0pt; font-family:Serif; font-style:italic; font-weight:normal; text-decoration:none;"><sup>&#8224;</sup></font><font
style="word-spacing:6.4pt;">&#160;</font><font style="font-size:8.0pt; font-family:Serif; font-style:italic;
font-weight:normal; text-decoration:none;">See Statement of Investments for additional detailed categorizations,
if any.</font></p><p style="font-size:8.0pt; font-family:Serif; text-align:left; text-indent:-10.8pt;
font-weight:normal; margin-left:10.8pt; font-style:italic;"><font style="font-size:8.0pt; font-family:Serif;
font-style:italic; font-weight:normal; text-decoration:none;"><sup>&#8224;&#8224;</sup></font><font style="word-spacing:6.4pt;">&#160;</font><font
style="font-size:8.0pt; font-family:Serif; font-style:italic; font-weight:normal; text-decoration:none;">Certain
of the fund&#8217;s liabilities are held at carrying amount, which approximates fair value for financial
reporting purposes.</font></p><p style="font-size:10.5pt; font-family:Serif; text-align:justify; font-weight:normal;
font-style:normal;"><font style="font-size:10.5pt; font-family:Serif; font-style:normal; font-weight:bold;
text-decoration:none;">(b) Securities transactions and investment income:</font><font style="font-size:10.5pt;
font-family:Serif; font-style:normal; font-weight:normal; text-decoration:none;"> Securities transactions
are recorded on a trade date basis. Realized gains and losses from securities transactions are recorded
on the identified cost basis. Interest income, adjusted for accretion of discount and amortization of
premium on investments, is earned from settlement date and recognized on the accrual basis. Securities
purchased or sold on a when-issued or delayed delivery basis may be settled a month or more after the
trade date.</font></p><p style="font-size:10.5pt; font-family:Serif; text-align:justify; font-weight:normal;
font-style:normal;"><font style="font-size:10.5pt; font-family:Serif; font-style:normal; font-weight:bold;
text-decoration:none;">(c) Market Risk:</font><font style="font-size:10.5pt; font-family:Serif; font-style:normal;
font-weight:normal; text-decoration:none;"> The value of the securities in which the fund invests may
be affected by political, regulatory, economic and social developments, and developments that impact
specific economic sectors, industries or segments of the market. The value of a security may also decline
due to general market conditions that are not specifically related to a particular company or industry,
such as real or perceived adverse economic conditions, changes in the general outlook for corporate earnings,
changes in interest or currency rates, changes to inflation, adverse changes to credit markets or adverse
investor sentiment generally.</font></p><p style="font-size:10.5pt; font-family:Serif; font-style:normal;
text-align:justify; font-weight:normal; text-decoration:none;">Additional Information section within
the annual report dated November 30, 2022, provides more details about the fund&#8217;s principal risk factors.</p><p
style="font-size:10.5pt; font-family:Serif; text-align:justify; font-weight:normal; font-style:normal;"><font
style="font-size:10.5pt; font-family:Serif; font-style:normal; font-weight:bold; text-decoration:none;">(d)
Dividends and distributions to Common Stockholders:</font><font style="font-size:10.5pt; font-family:Serif;
font-style:normal; font-weight:normal; text-decoration:none;"> Dividends and distributions are recorded
on the ex-dividend date. Dividends from net investment income are normally declared and paid monthly.
Dividends from net realized capital gains, if any, are normally declared and paid annually, but the fund
may make distributions on a more frequent basis to comply with the distribution requirements of the Internal
Revenue Code </font></p>
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<p style="font-size:10.5pt; font-family:Serif; font-style:normal; text-align:justify; font-weight:normal;
text-decoration:none;">of 1986, as amended (the &#8220;Code&#8221;). To the extent that net realized capital
gains can be offset by capital loss carryovers, it is the policy of the fund not to distribute such gains.
Income and capital gain distributions are determined in accordance with income tax regulations, which
may differ from GAAP.</p><p style="font-size:10.5pt; font-family:Serif; font-style:normal; text-align:justify;
font-weight:normal; text-decoration:none;">Common Stockholders will have their distributions reinvested
in additional shares of the fund, unless such Common Stockholders elect to receive cash, at the lower
of the market price or net asset value per share (but not less than 95% of the market price). If market
price is equal to or exceeds net asset value, shares will be issued at net asset value. If net asset
value exceeds market price, Computershare Inc., the transfer agent for the fund&#8217;s Common Stock, will
buy fund shares in the open market and reinvest those shares accordingly.</p><p style="font-size:10.5pt;
font-family:Serif; font-style:normal; text-align:justify; font-weight:normal; text-decoration:none;">On
May 30, 2023, the Board declared a cash dividend of $.022 per share from net investment income, payable
on June 30, 2023 to Common Stockholders of record as of the close of business on June 14, 2023. The ex-dividend
date was June 13, 2023.</p><p style="font-size:10.5pt; font-family:Serif; text-align:justify; font-weight:normal;
font-style:normal;"><font style="font-size:10.5pt; font-family:Serif; font-style:normal; font-weight:bold;
text-decoration:none;">(e) Dividends and distributions to stockholders of APS:</font><font style="font-size:10.5pt;
font-family:Serif; font-style:normal; font-weight:normal; text-decoration:none;"> Dividends, which are
cumulative, are generally reset every seven days for each series of APS pursuant to a process specified
in related fund charter documents. Dividend rates as of May 31, 2023, for each series of APS were as
follows: Series A-5.668%, Series B-5.679% and Series C-5.668%. These rates reflect the &#8220;maximum rates&#8221;
under the governing instruments as a result of &#8220;failed auctions&#8221; in which sufficient clearing bids
are not received. The average dividend rates for the period ended May 31, 2023 for each series of APS
were as follows: Series A-5.498%, Series B-5.495% and Series C-5.436%.</font></p><p style="font-size:10.5pt;
font-family:Serif; text-align:justify; font-weight:normal; font-style:normal;"><font style="font-size:10.5pt;
font-family:Serif; font-style:normal; font-weight:bold; text-decoration:none;">(f) Federal income taxes:</font><font
style="font-size:10.5pt; font-family:Serif; font-style:normal; font-weight:normal; text-decoration:none;">
It is the policy of the fund to continue to qualify as a regulated investment company, which can distribute
tax-exempt dividends, by complying with the applicable provisions of the Code, and to make distributions
of income and net realized capital gain sufficient to relieve it from substantially all federal income
and excise taxes.</font></p><p style="font-size:10.5pt; font-family:Serif; font-style:normal; text-align:justify;
font-weight:normal; text-decoration:none;">As of and during the period ended May 31, 2023, the fund did
not have any liabilities for any uncertain tax positions. The fund recognizes interest and penalties,
if any, related to uncertain tax positions as income tax expense in the Statement of Operations. During
the period ended May 31, 2023, the fund did not incur any interest or penalties.</p><p style="font-size:10.5pt;
font-family:Serif; font-style:normal; text-align:justify; font-weight:normal; text-decoration:none;">Each
tax year in the three-year period ended November 30, 2022 remains subject to examination by the Internal
Revenue Service and state taxing authorities.</p>
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<p style="font-size:9.0pt; font-family:Arial; text-align:left; font-weight:normal; font-style:normal;"><font
style="font-size:9.0pt; font-family:Arial; font-style:normal; font-weight:normal; text-decoration:none;">NOTES
TO FINANCIAL STATEMENTS (Unaudited) </font><font style="font-size:9.0pt; font-family:Arial; font-style:italic;
font-weight:normal; text-decoration:none;">(continued)</font></p>
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<p style="font-size:10.5pt; font-family:Serif; font-style:normal; text-align:justify; font-weight:normal;
text-decoration:none;">The fund is permitted to carry forward capital losses for an unlimited period.
Furthermore, capital loss carryovers retain their character as either short-term or long-term capital
losses.</p><p style="font-size:10.5pt; font-family:Serif; font-style:normal; text-align:justify; font-weight:normal;
text-decoration:none;">The fund has an unused capital loss carryover of $21,258,601 available for federal
income tax purposes to be applied against future net realized capital gains, if any, realized subsequent
to November 30, 2022. The fund has $14,677,345 of short-term capital losses and $6,581,256 of long-term
capital losses which can be carried forward for an unlimited period.</p><p style="font-size:10.5pt; font-family:Serif;
font-style:normal; text-align:justify; font-weight:normal; text-decoration:none;">The tax character of
distributions paid to Common Stockholders during the fiscal year ended November 30, 2022 was as follows:
tax-exempt income $18,209,261. The tax character of current year distributions will be determined at
the end of the current fiscal year. </p><p style="font-size:10.5pt; font-family:Serif; text-align:justify;
font-weight:normal; font-style:normal;"><font style="font-size:10.5pt; font-family:Serif; font-style:normal;
font-weight:bold; text-decoration:none;">(g) New accounting pronouncements:</font><font style="font-size:10.5pt;
font-family:Serif; font-style:normal; font-weight:normal; text-decoration:none;"> In 2020, the FASB issued
Accounting Standards Update No. 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects
of Reference Rate Reform on Financial Reporting, which provides optional guidance to ease the potential
burden in accounting for (or recognizing the effects of) reference rate reform on financial reporting.
</font></p><p style="font-size:10.5pt; font-family:Serif; font-style:normal; text-align:justify; font-weight:normal;
text-decoration:none;">The objective of the guidance in Topic 848 is to provide temporary relief during
the transition period. The FASB included a sunset provision within Topic 848 based on expectations of
when the LIBOR would cease being published. At the time that Update 2020-04 was issued, the UK Financial
Conduct Authority (FCA) had established its intent that it would no longer be necessary to persuade,
or compel, banks to submit to LIBOR after December 31, 2021. As a result, the sunset provision was set
for December 31, 2022&#8212;12 months after the expected cessation date of all currencies and tenors of LIBOR.
</p><p style="font-size:10.5pt; font-family:Serif; font-style:normal; text-align:justify; font-weight:normal;
text-decoration:none;">In March 2021, the FCA announced that the intended cessation date of the overnight
1-, 3-, 6-, and 12-month tenors of USD LIBOR would be June 30, 2023, which is beyond the current sunset
date of Topic 848. </p><p style="font-size:10.5pt; font-family:Serif; font-style:normal; text-align:justify;
font-weight:normal; text-decoration:none;">Because the current relief in Topic 848 may not cover a period
of time during which a significant number of modifications may take place, the amendments in this Update
defer the sunset date of Topic 848 from December 31, 2022, to December 31, 2024 (&#8220;FASB Sunset Date&#8221;),
after which entities will no longer be permitted to apply the relief in Topic 848. </p><p style="font-size:10.5pt;
font-family:Serif; font-style:normal; text-align:justify; font-weight:normal; text-decoration:none;">Management
had evaluated the impact of Topic 848 on the fund&#8217;s investments, derivatives, debt and other contracts
that will undergo reference rate-related modifications as a result of the Reference Rate Reform. Management
has no concerns in adopting Topic 848 by FASB </p>
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<p style="font-size:10.5pt; font-family:Serif; font-style:normal; text-align:justify; font-weight:normal;
text-decoration:none;">Sunset Date. Management will continue to work with other financial institutions
and counterparties to modify contracts as required by applicable regulation and within the regulatory
deadlines. As of May 31, 2023, management believes these accounting standards have no impact on the fund
and does not have any concerns of adopting the regulations by FASB Sunset Date.</p><p style="font-size:10.0pt;
font-family:Arial; text-align:left; font-weight:bold; text-decoration:none;">NOTE 2&#8212;Management Fee,
 Sub-Advisory Fee, Administration Fee,  and Other Transactions with Affiliates:</p><p style="font-size:10.5pt;
font-family:Serif; text-align:justify; font-weight:normal; font-style:normal;"><font style="font-size:10.5pt;
font-family:Serif; font-style:normal; font-weight:bold; text-decoration:none;">(a) </font><font style="font-size:10.5pt;
font-family:Serif; font-style:normal; font-weight:normal; text-decoration:none;">Pursuant to an investment
advisory agreement with the Adviser, the management fee is computed at the annual rate of .50% of the
value of the fund&#8217;s average weekly net assets, inclusive of the outstanding APS, and is payable monthly.
The fund also has an administration agreement with the Adviser and a custody agreement with The Bank
of New York Mellon (the &#8220;Custodian&#8221;), a subsidiary of BNY Mellon and an affiliate of the Adviser.
The fund pays in the aggregate for administration, custody and transfer agency services, a monthly fee
based on an annual rate of .25% of the value of the fund&#8217;s average weekly net assets, inclusive of
the outstanding APS. All out-of-pocket transfer agency and custody expenses, including custody transaction
expenses, are paid separately by the fund.</font></p><p style="font-size:10.5pt; font-family:Serif; font-style:normal;
text-align:justify; font-weight:normal; text-decoration:none;">The Adviser has undertaken, from December
1, 2022 through November 30, 2023, to waive receipt of a portion of the fund&#8217;s management fee, in the
amount of .10% of the value of the fund&#8217;s average weekly net assets (including net assets representing
APS outstanding). The reduction in expenses, pursuant to the undertaking, amounted to $188,139 during
the period ended May 31, 2023.</p><p style="font-size:10.5pt; font-family:Serif; font-style:normal; text-align:justify;
font-weight:normal; text-decoration:none;">Pursuant to a sub-investment advisory agreement between the
Adviser and the Sub-Adviser, the Adviser pays the Sub-Adviser a monthly fee at an annual rate of .24%
of the value of the fund&#8217;s average weekly net assets, (including net assets representing APS outstanding).
</p><p style="font-size:10.5pt; font-family:Serif; text-align:justify; color:#121212; font-weight:normal;
font-style:normal;"><font style="font-size:10.5pt; font-family:Serif; font-style:normal; color:#000000;
font-weight:bold; text-decoration:none;">(b) </font><font style="font-size:10.5pt; font-family:Serif;
font-style:normal; color:#000000; font-weight:normal; text-decoration:none;">The fund has an arrangement
with the Custodian whereby</font><font style="font-size:10.5pt; font-family:Serif; font-style:normal;
color:#121212; font-weight:normal; text-decoration:none;"> the fund may receive earnings credits when
positive cash balances are maintained, which are used to offset custody fees. For financial reporting
purposes, the fund includes net earnings credits as an expense offset in the Statement of Operations.</font></p><p
style="font-size:10.5pt; font-family:Serif; text-align:justify; font-weight:normal; font-style:normal;"><font
style="font-size:10.5pt; font-family:Serif; font-style:normal; font-weight:normal; text-decoration:none;">The
fund compensates the Custodian under a custody agreement for providing custodial services for the fund.
These fees are determined based on transaction activity. During the period ended May 31, 2023</font><font
style="font-size:11.0pt; font-family:Serif; font-style:normal; font-weight:normal; text-decoration:none;">,
</font><font style="font-size:10.5pt; font-family:Serif; font-style:normal; font-weight:normal; text-decoration:none;">the
fund was charged $3,341 for out-of-pocket and custody transaction expenses, pursuant to the custody agreement.
These fees were offset by earnings credits of $3,341.</font></p>
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<p style="font-size:9.0pt; font-family:Arial; text-align:left; font-weight:normal; font-style:normal;"><font
style="font-size:9.0pt; font-family:Arial; font-style:normal; font-weight:normal; text-decoration:none;">NOTES
TO FINANCIAL STATEMENTS (Unaudited) </font><font style="font-size:9.0pt; font-family:Arial; font-style:italic;
font-weight:normal; text-decoration:none;">(continued)</font></p>
<!-- PAGEBREAK_END -->
<p style="font-size:10.5pt; font-family:Serif; font-style:normal; text-align:justify; font-weight:normal;
text-decoration:none;">During the period ended May 31, 2023, the fund was charged $7,224 for services
performed by the fund&#8217;s Chief Compliance Officer and his staff. These fees are included in Chief Compliance
Officer fees in the Statement of Operations.</p><p style="font-size:10.5pt; font-family:Serif; font-style:normal;
text-align:justify; font-weight:normal; text-decoration:none;">The components of &#8220;Due to BNY Mellon
Investment Adviser, Inc. and affiliates&#8221; in the Statement of Assets and Liabilities consist of: management
fee of $158,899, Administration fee of $79,449 and Chief Compliance Officer fees of $2,954, which are
offset against an expense reimbursement currently in effect in the amount of $33,824.</p><p style="font-size:10.5pt;
font-family:Serif; text-align:justify; font-weight:normal; font-style:normal;"><font style="font-size:10.5pt;
font-family:Serif; font-style:normal; font-weight:bold; text-decoration:none;">(c)</font><font style="font-size:10.5pt;
font-family:Serif; font-style:normal; font-weight:normal; text-decoration:none;"> Each board member also
serves as a board member of other funds in the BNY Mellon Family of Funds complex. Annual retainer fees
and attendance fees are allocated to each fund based on net assets. </font></p><p style="font-size:10.0pt;
font-family:Arial; text-align:left; font-weight:bold; text-decoration:none;">NOTE 3&#8212;Securities Transactions:</p><p
style="font-size:10.5pt; font-family:Serif; font-style:normal; text-align:justify; font-weight:normal;
text-decoration:none;">The aggregate amount of purchases and sales (including paydowns) of investment
securities, excluding short-term securities, during the period ended May 31, 2023, amounted to $75,658,550
and $74,408,653, respectively.</p><p style="font-size:10.5pt; font-family:Serif; text-align:justify;
font-weight:normal; font-style:normal;"><font style="font-size:10.5pt; font-family:Serif; font-style:normal;
font-weight:bold; text-decoration:none;">Inverse Floater Securities:</font><font style="font-size:10.5pt;
font-family:Serif; font-style:normal; font-weight:normal; text-decoration:none;"> The fund participates
in secondary inverse floater structures in which fixed-rate, tax-exempt municipal bonds are transferred
to a trust (the &#8220;Inverse Floater Trust&#8221;). The Inverse Floater Trust typically issues two variable
rate securities that are collateralized by the cash flows of the fixed-rate, tax-exempt municipal bonds.
One of these variable rate securities pays interest based on a short-term floating rate set by a remarketing
agent at predetermined intervals (&#8220;Trust Certificates&#8221;). A residual interest tax-exempt security
is also created by the Inverse Floater Trust, which is transferred to the fund, and is paid interest
based on the remaining cash flows of the Inverse Floater Trust, after payment of interest on the other
securities and various expenses of the Inverse Floater Trust. An Inverse Floater Trust may be collapsed
without the consent of the fund due to certain termination events such as bankruptcy, default or other
credit event.</font></p><p style="font-size:10.5pt; font-family:Serif; font-style:normal; text-align:justify;
font-weight:normal; text-decoration:none;">The fund accounts for the transfer of bonds to the Inverse
Floater Trust as secured borrowings, with the securities transferred remaining in the fund&#8217;s investments,
and the Trust Certificates reflected as fund liabilities in the Statement of Assets and Liabilities.
</p><p style="font-size:10.5pt; font-family:Serif; font-style:normal; text-align:justify; font-weight:normal;
text-decoration:none;">The fund may invest in inverse floater securities on either a non-recourse or
recourse basis. These securities are typically supported by a liquidity facility provided by a bank or
other financial institution (the &#8220;Liquidity Provider&#8221;) that allows the holders of the Trust Certificates
to tender their </p>
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<p style="font-size:10.5pt; font-family:Serif; font-style:normal; text-align:justify; font-weight:normal;
text-decoration:none;">certificates in exchange for payment from the Liquidity Provider of par plus accrued
interest on any business day prior to a termination event. When the fund invests in inverse floater securities
on a non-recourse basis, the Liquidity Provider is required to make a payment under the liquidity facility
due to a termination event to the holders of the Trust Certificates. When this occurs, the Liquidity
Provider typically liquidates all or a portion of the municipal securities held in the Inverse Floater
Trust. A liquidation shortfall occurs if the Trust Certificates exceed the proceeds of the sale of the
bonds in the Inverse Floater Trust (&#8220;Liquidation Shortfall&#8221;). When a fund invests in inverse floater
securities on a recourse basis, the fund typically enters into a reimbursement agreement with the Liquidity
Provider where the fund is required to repay the Liquidity Provider the amount of any Liquidation Shortfall.
As a result, a fund investing in a recourse inverse floater security bears the risk of loss with respect
to any Liquidation Shortfall.</p><p style="font-size:10.5pt; font-family:Serif; font-style:normal; text-align:justify;
font-weight:normal; text-decoration:none;">The average amount of borrowings outstanding under the inverse
floater structure during the period ended May 31, 2023 was approximately $100,013,619, with a related
weighted average annualized interest rate of 3.67%.</p><p style="font-size:10.5pt; font-family:Serif;
font-style:normal; text-align:justify; font-weight:normal; text-decoration:none;">At May 31, 2023, accumulated
net unrealized depreciation on investments was $17,943,782, consisting of $6,548,098 gross unrealized
appreciation and $24,491,880 gross unrealized depreciation. </p><p style="font-size:10.5pt; font-family:Serif;
font-style:normal; text-align:justify; font-weight:normal; text-decoration:none;">At May 31, 2023, the
cost of investments for federal income tax purposes was substantially the same as the cost for financial
reporting purposes (see the Statement of Investments).</p><p style="font-size:10.0pt; font-family:Arial;
text-align:left; font-weight:bold; text-decoration:none;">NOTE 4&#8212;Subsequent Event:</p><p style="font-size:10.5pt;
font-family:Serif; font-style:normal; text-align:justify; font-weight:normal; text-decoration:none;">On
July 12, 2023, the fund announced the redemption of all issued and outstanding shares of the fund&#8217;s
auction preferred stock (&#8220;APS&#8221;, and the issuance by the fund of 1,927 shares of Series 2023-1 Variable
Rate MuniFund Term Preferred Shares (&#8220;VMTP Shares&#8221;), par value $0.001 per share, liquidation preference
$25,000 per share, to a &#8220;qualified institutional buyer&#8221; as defined in Rule 144A under the Securities
Act, in a private placement.  As of July 12, 2023 (the &#8220;Redemption Date&#8221;) all rights of the APS&#8217;s
holders (except the right to receive the Redemption Price of $25,000 per share plus an amount equal to
any accumulated but unpaid dividends thereon, and any Additional Dividends) ceased and terminated, and
the APS were no longer outstanding.</p><p style="font-size:10.5pt; font-family:Serif; font-style:normal;
text-align:justify; font-weight:normal; text-decoration:none;">As with the APS, the fund is subject to
certain restrictions relating to the VMTP Shares.  Failure to comply with these restrictions could preclude
the fund from declaring any distributions in respect of the Common </p>
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<p style="font-size:9.0pt; font-family:Arial; text-align:left; font-weight:normal; font-style:normal;"><font
style="font-size:9.0pt; font-family:Arial; font-style:normal; font-weight:normal; text-decoration:none;">NOTES
TO FINANCIAL STATEMENTS (Unaudited) </font><font style="font-size:9.0pt; font-family:Arial; font-style:italic;
font-weight:normal; text-decoration:none;">(continued)</font></p>
<!-- PAGEBREAK_END -->
<p style="font-size:10.5pt; font-family:Serif; font-style:normal; text-align:justify; font-weight:normal;
text-decoration:none;">Shares or repurchasing Common Shares and/or could trigger the mandatory redemption
of VMTPS at the applicable mandatory redemption price.</p><p style="font-size:10.5pt; font-family:Serif;
font-style:normal; text-align:justify; font-weight:normal; text-decoration:none;">The VMTP Shares have
a term redemption date of July 14, 2053, and are subject to an early term redemption date of July 13,
2026. </p><p style="font-size:10.5pt; font-family:Serif; font-style:normal; text-align:justify; font-weight:normal;
text-decoration:none;"> As with the APS, holders of Preferred Shares, including VMTP Shares, voting as
a separate class, have the right to elect at least two directors. The holders of Preferred Shares, including
VMTP Shares, will vote as a separate class on certain other matters, as required by law. The same directors
that were designated for election by holders of the APS are designed for election by holders of VMTP
Shares.</p><p style="font-size:10.5pt; font-family:Serif; text-align:justify; font-weight:normal; font-style:normal;"><font
style="font-size:10.5pt; font-family:Serif; font-style:normal; font-weight:normal; text-decoration:none;">Dividends
on VMTP Shares are normally declared daily and paid monthly. The Dividend Rate on the VMTP Shares generally
will be equal to </font><font style="font-size:10.5pt; font-family:Serif; font-style:normal; color:#000000;
font-weight:normal; text-decoration:none;">the rate&#160;</font><font style="font-size:10.5pt; font-family:Serif;
font-style:italic; color:#000000; font-weight:normal; text-decoration:none;">per annum&#160;</font><font
style="font-size:10.5pt; font-family:Serif; font-style:normal; color:#000000; font-weight:normal; text-decoration:none;">that
results from the sum of (1) 0.95% per annum plus (2) the Securities Industry and Financial markets Association
Municipal Swap Index.</font></p><p style="font-size:10.5pt; font-family:Serif; font-style:normal; text-align:justify;
font-weight:normal; text-decoration:none;">As of the Redemption Date, the fund entered into a Redemption
and Paying Agent Agreement with The Bank of New York Mellon with respect to the VMTP Shares.</p>
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<p style="font-size:8.0pt; font-family:Arial; text-align:center; font-weight:bold; text-decoration:none;">38</p>

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<p style="page-break-before:always;"></p>

<p style="font-size:11.5pt; font-family:Arial; text-align:left; font-weight:normal; font-style:normal;"><font
style="font-size:11.5pt; font-family:Arial; font-style:normal; font-weight:normal; text-decoration:none;">PROXY
RESULTS </font><font style="font-size:9.0pt; font-family:Arial; font-style:normal; font-weight:normal;
text-decoration:none;">(Unaudited)</font></p>
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<p style="font-size:10.0pt; font-family:Serif; text-align:left; font-weight:normal; font-style:normal;"><font
style="font-size:4.0pt; font-family:Arial; font-style:normal; font-weight:normal; text-decoration:none;">
</font><a name="9"></a><font style="font-size:10.0pt; font-family:Serif; font-style:normal; font-weight:normal;
text-decoration:none;"> </font><font style="font-size:10.0pt; font-family:Serif; font-style:normal; font-weight:normal;
text-decoration:none;">Common Stockholders and holders of APS voted together as a single class (except
as noted below) on the following proposal presented at the annual stockholders&#8217; meeting held on June
14, 2023.</font></p><table cellspacing="0" style="border-collapse:collapse" width="100%" cellpadding="0"
style="clear:both"><tr style="font-size:1pt;"><td style="width:3.89%;" >&nbsp;</td><td style="width:39.08%;"
>&nbsp;</td><td style="width:19.18%;" >&nbsp;</td><td style="width:12.3%;" >&nbsp;</td><td style="width:25.54%;"
>&nbsp;</td></tr><tr><td style="vertical-align:middle; border-top:1.5pt; border-top-style:solid; border-top-color:#000000;
background-color:#D9D9D9; font-size:1pt;"><p style="font-size:11.0pt; font-family:Calibri; text-align:left;
color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td style="vertical-align:middle;
border-top:1.5pt; border-top-style:solid; border-top-color:#000000; background-color:#D9D9D9; font-size:1pt;"><p
style="font-size:11.0pt; font-family:Calibri; text-align:left; color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td
colspan="3" style=" vertical-align:middle; border-bottom:0.5pt; border-bottom-style:solid; border-bottom-color:#000000;
border-top:1.5pt; border-top-style:solid; border-top-color:#000000; background-color:#D9D9D9;"><p style="font-size:8.0pt;
font-family:Cambria; text-align:center; color:#000000; font-weight:normal; text-decoration:none;">Shares</p><p
style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td></tr><tr><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:middle; border-bottom:0.5pt;
border-bottom-style:solid; border-bottom-color:#000000; border-top:0.5pt; border-top-style:solid; border-top-color:#000000;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;"> For </p></td><td style="vertical-align:middle; border-bottom:0.5pt;
border-bottom-style:solid; border-bottom-color:#000000; border-top:0.5pt; border-top-style:solid; border-top-color:#000000;
background-color:#D9D9D9; font-size:1pt;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right;
color:#000000; font-weight:normal; text-decoration:none;">&#160;</p></td><td style="vertical-align:middle;
border-bottom:0.5pt; border-bottom-style:solid; border-bottom-color:#000000; border-top:0.5pt; border-top-style:solid;
border-top-color:#000000; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;"> Authority Withheld </p></td></tr><tr><td
colspan="2" style=" vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; color:#141414; font-weight:normal; font-style:normal;"><font style="font-size:8.0pt;
font-family:Cambria; font-style:normal; color:#141414; font-weight:normal; text-decoration:none;">To
elect three Class III Directors:</font><font style="font-size:8.0pt; font-family:Cambria; font-style:normal;
color:#141414; font-weight:normal; text-decoration:none;"><sup>&#8224;</sup></font></p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"
>&nbsp;</td></tr><tr><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; color:#141414; font-weight:normal; text-decoration:none;">Joan L. Gulley</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;">35,577,706</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">3,658,309</p></td></tr><tr><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414;
font-weight:normal; text-decoration:none;">Burton N. Wallack</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000;
font-weight:normal; text-decoration:none;">35,019,828</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt;
font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">4,216,187</p></td></tr><tr><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414;
font-weight:normal; font-style:normal;"><font style="font-size:8.0pt; font-family:Cambria; font-style:normal;
color:#141414; font-weight:normal; text-decoration:none;">Benaree Pratt Wiley</font><font style="font-size:8.0pt;
font-family:Cambria; font-style:normal; color:#141414; font-weight:normal; text-decoration:none;"><sup>&#8224;&#8224;</sup></font></p></td><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:right; color:#000000; font-weight:normal; text-decoration:none;">1,668</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:right; color:#000000; font-weight:normal; text-decoration:none;">-</p></td></tr></table><p
style="font-size:8.0pt; font-family:Serif; text-align:left; text-indent:-10.8pt; font-weight:normal;
margin-left:10.8pt; font-style:italic;"><font style="font-size:8.0pt; font-family:Serif; font-style:italic;
font-weight:normal; text-decoration:none;"><sup>&#8224;</sup></font><font style="word-spacing:6.4pt;">&#160;</font><font
style="font-size:8.0pt; font-family:Serif; font-style:italic; font-weight:normal; text-decoration:none;">The
terms of the Class III Directors will expire in 2026.</font></p><p style="font-size:8.0pt; font-family:Serif;
text-align:left; text-indent:-10.8pt; font-weight:normal; margin-left:10.8pt; font-style:italic;"><font
style="font-size:8.0pt; font-family:Serif; font-style:italic; font-weight:normal; text-decoration:none;"><sup>&#8224;&#8224;</sup></font><font
style="word-spacing:6.4pt;">&#160;</font><font style="font-size:8.0pt; font-family:Serif; font-style:italic;
font-weight:normal; text-decoration:none;">Ms. Wiley&#8217;s name was inadvertently left off of the proxy
card for the Common Stockholders and, thus, Common Stockholders were not able to cast votes for her election.
 Ms. Wiley will continue to serve as a director based on her prior election and will be presented for
election as a Class III Director at the next annual meeting of stockholders.</font></p>
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<p style="font-size:8.0pt; font-family:Arial; text-align:center; font-weight:bold; text-decoration:none;">39</p>

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font-style:normal; text-align:center; font-weight:normal; text-decoration:none;"> </p>
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<p style="font-size:8.0pt; font-family:Arial; text-align:center; font-weight:bold; text-decoration:none;">40</p>

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<p style="page-break-before:always;"></p>

<p style="font-size:11.0pt; font-family:Arial; text-align:left; font-weight:normal; font-style:normal;"><font
style="font-size:11.5pt; font-family:Arial; font-style:normal; font-weight:normal; text-decoration:none;">OFFICERS
AND DIRECTORS</font><br><font style="font-size:11.0pt; font-family:Arial; font-style:normal; font-weight:normal;
text-decoration:none;">BNY Mellon Strategic Municipal Bond Fund, Inc.</font></p><p style="font-size:10.5pt;
font-family:Serif; text-align:left; font-weight:normal; font-style:normal;"><font style="font-size:10.5pt;
font-family:Serif; font-style:normal; font-weight:normal; text-decoration:none;">240 Greenwich Street</font><br><font
style="font-size:10.5pt; font-family:Serif; font-style:normal; font-weight:normal; text-decoration:none;">New
York, NY 10286</font></p>
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<table cellspacing="0" style="border-collapse:collapse" width="100%" cellpadding="2" style="clear:both"><tr
style="font-size:1pt;"><td style="width:42%;" >&nbsp;</td><td style="width:8%;" >&nbsp;</td><td style="width:42%;"
>&nbsp;</td><td style="width:8%;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;"><p style="font-size:9.0pt; font-family:Cambria; text-align:left; color:#000000; text-indent:-7.2pt;
font-weight:bold; margin-left:7.2pt; font-style:normal;"><font style="font-size:4.0pt; font-family:Arial;
font-style:normal; color:#000000; font-weight:bold; text-decoration:none;">&#160;</font><a name="10"></a><font
style="font-size:9.0pt; font-family:Cambria; font-style:normal; color:#000000; font-weight:bold; text-decoration:none;">&#160;</font><font
style="font-size:9.0pt; font-family:Cambria; font-style:normal; color:#000000; font-weight:bold; text-decoration:none;">Directors</font></p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:9.0pt; font-family:Cambria; text-align:left; color:#000000;
text-indent:-7.2pt; font-weight:bold; margin-left:7.2pt; font-style:normal;"><font style="font-size:8.0pt;
font-family:Cambria; font-style:normal; color:#000000; font-weight:bold; text-decoration:none;">Chief
Compliance Officer</font></p></td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"
>&nbsp;</td></tr><tr><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt;
font-family:Cambria; text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal; margin-left:7.2pt;
text-decoration:none;">Joseph S. DiMartino, Chairman</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt;
font-family:Cambria; text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal; margin-left:7.2pt;
text-decoration:none;">    Joseph W. Connolly</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal;
margin-left:7.2pt; font-style:normal;"><font style="font-size:8.0pt; font-family:Cambria; font-style:normal;
color:#141414; font-weight:normal; text-decoration:none;">Joni Evans</font><font style="font-size:8.0pt;
font-family:Cambria; font-style:normal; color:#141414; font-weight:normal; text-decoration:none;"><sup>&#8224;</sup></font></p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414;
text-indent:-7.2pt; font-weight:bold; margin-left:7.2pt; font-style:normal;"><font style="font-size:9.0pt;
font-family:Cambria; font-style:normal; color:#141414; font-weight:bold; text-decoration:none;">Portfolio
Managers</font></p></td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal; margin-left:7.2pt; text-decoration:none;">Joan
Gulley</p></td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal; margin-left:7.2pt; text-decoration:none;">Daniel
A. Rabasco</p></td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal; margin-left:7.2pt; text-decoration:none;">Alan
H. Howard</p></td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:9.0pt; font-family:Cambria;
text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal; margin-left:7.2pt; font-style:normal;"><font
style="font-size:8.0pt; font-family:Cambria; font-style:normal; color:#141414; font-weight:normal; text-decoration:none;">Jeffrey
B. Burger</font></p></td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"
>&nbsp;</td></tr><tr><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt;
font-family:Cambria; text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal; margin-left:7.2pt;
font-style:normal;"><font style="font-size:8.0pt; font-family:Cambria; font-style:normal; color:#141414;
font-weight:normal; text-decoration:none;">Robin A. Melvin </font><font style="font-size:8.0pt; font-family:Serif; font-style:normal; color:#141414; font-weight:normal; text-decoration:none;"><sup>&#8224;</sup></font></p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:top;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal;
margin-left:7.2pt; text-decoration:none;">Burton N. Wallack</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:top; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"
>&nbsp;</td></tr><tr><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt;
font-family:Cambria; text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal; margin-left:7.2pt;
text-decoration:none;">Benaree Pratt Wiley</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt;
font-family:Cambria; text-align:left; color:#141414; text-indent:-7.2pt; font-weight:bold; margin-left:7.2pt;
font-style:normal;"><font style="font-size:9.0pt; font-family:Cambria; font-style:normal; color:#141414;
font-weight:bold; text-decoration:none;">Investment Adviser and Administrator</font></p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:top; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal;
margin-left:7.2pt; font-style:normal;"><font style="font-size:8.0pt; font-family:Cambria; font-style:normal;
color:#141414; font-weight:normal; text-decoration:none;">Gordon Davis</font><font style="font-size:8.0pt;
font-family:Cambria; font-style:normal; color:#141414; font-weight:normal; text-decoration:none;"><sup>&#8224;&#8224;</sup></font></p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414;
text-indent:-7.2pt; font-weight:normal; margin-left:7.2pt; text-decoration:none;">BNY Mellon Investment
Adviser, Inc.</p></td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal; margin-left:7.2pt; font-style:normal;"><font
style="font-size:8.0pt; font-family:Cambria; font-style:normal; color:#141414; font-weight:normal; text-decoration:none;"><sup>&#8224;</sup></font><font
style="font-size:8.0pt; font-family:Cambria; font-style:normal; color:#141414; font-weight:normal; text-decoration:none;">
Elected by APS Holders</font></p></td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"
>&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; color:#141414; text-indent:-7.2pt; font-weight:bold; margin-left:7.2pt; text-decoration:none;">Sub-Adviser</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414;
text-indent:-7.2pt; font-weight:normal; margin-left:7.2pt; font-style:normal;"><font style="font-size:8.0pt;
font-family:Cambria; font-style:normal; color:#141414; font-weight:normal; text-decoration:none;"><sup>&#8224;&#8224;</sup></font><font
style="font-size:8.0pt; font-family:Cambria; font-style:normal; color:#141414; font-weight:normal; text-decoration:none;">
 Advisory Board Member</font></p></td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"
>&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal; margin-left:7.2pt; text-decoration:none;">Insight
North America LLC</p></td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"
>&nbsp;</td></tr><tr><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:9.0pt;
font-family:Cambria; text-align:left; color:#141414; text-indent:-7.2pt; font-weight:bold; margin-left:7.2pt;
text-decoration:none;">Officers</p></td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"
>&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:9.0pt; font-family:Cambria;
text-align:left; color:#000000; text-indent:-7.2pt; font-weight:bold; margin-left:7.2pt; text-decoration:none;">Custodian</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414;
text-indent:-7.2pt; font-weight:normal; margin-left:7.2pt; text-decoration:none;">President</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#000000;
text-indent:-7.2pt; font-weight:normal; margin-left:7.2pt; text-decoration:none;">The Bank of New York
Mellon</p></td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal; margin-left:7.2pt; text-decoration:none;">
   David DiPetrillo</p></td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"
>&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; color:#000000; text-indent:-7.2pt; font-weight:bold; margin-left:7.2pt; font-style:normal;"><font
style="font-size:9.0pt; font-family:Cambria; font-style:normal; color:#000000; font-weight:bold; text-decoration:none;">Counsel</font></p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414;
text-indent:-7.2pt; font-weight:normal; margin-left:7.2pt; text-decoration:none;">Chief Legal Officer</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:9.0pt; font-family:Cambria; text-align:left; color:#141414;
text-indent:-7.2pt; font-weight:bold; margin-left:7.2pt; font-style:normal;"><font style="font-size:8.0pt;
font-family:Cambria; font-style:normal; color:#141414; font-weight:normal; text-decoration:none;">Proskauer
Rose LLP</font></p></td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal; margin-left:7.2pt; text-decoration:none;">
   Peter M. Sullivan</p></td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"
>&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; color:#000000; text-indent:-7.2pt; font-weight:bold; margin-left:7.2pt; font-style:normal;"><font
style="font-size:9.0pt; font-family:Cambria; font-style:normal; color:#000000; font-weight:bold; text-decoration:none;">Transfer
Agent,</font></p></td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal; margin-left:7.2pt; text-decoration:none;">Vice
President and Secretary</p></td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"
>&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; color:#141414; font-weight:normal; font-style:normal;"><font style="font-size:9.0pt;
font-family:Cambria; font-style:normal; color:#141414; font-weight:bold; text-decoration:none;">Dividend
-Paying Agent</font></p></td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"
>&nbsp;</td></tr><tr><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt;
font-family:Cambria; text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal; margin-left:7.2pt;
text-decoration:none;">    James Bitetto</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:9.0pt;
font-family:Cambria; text-align:left; color:#000000; text-indent:-7.2pt; font-weight:bold; margin-left:7.2pt;
text-decoration:none;">Disbursing Agent and Registrar</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal;
margin-left:7.2pt; text-decoration:none;">Vice President and Secretaries</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:9.0pt; font-family:Cambria; text-align:left; color:#000000; text-indent:-7.2pt; font-weight:normal;
margin-left:7.2pt; font-style:normal;"><font style="font-size:8.0pt; font-family:Cambria; font-style:normal;
color:#000000; font-weight:normal; text-decoration:none;">Computershare Inc.</font></p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal;
margin-left:7.2pt; text-decoration:none;">    Deirdre Cunnane</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:9.0pt; font-family:Cambria; text-align:left; color:#000000; text-indent:-7.2pt; font-weight:normal;
margin-left:7.2pt; font-style:normal;"><font style="font-size:8.0pt; font-family:Cambria; font-style:normal;
color:#000000; font-weight:normal; text-decoration:none;">(Common Stock)</font></p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal;
margin-left:7.2pt; text-decoration:none;">    Sarah S. Kelleher</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal;
margin-left:7.2pt; text-decoration:none;">Deutsche Bank Trust Company America</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal;
margin-left:7.2pt; text-decoration:none;">    Jeff Prusnofsky</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#000000; text-indent:-7.2pt; font-weight:normal;
margin-left:7.2pt; text-decoration:none;">(Auction Preferred Stock)</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal;
margin-left:7.2pt; text-decoration:none;">    Amanda Quinn</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal;
margin-left:7.2pt; font-style:normal;"><font style="font-size:9.0pt; font-family:Cambria; font-style:normal;
color:#141414; font-weight:bold; text-decoration:none;">Auction Agent</font></p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal;
margin-left:7.2pt; text-decoration:none;">    Joanee Skerrett</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal;
margin-left:7.2pt; text-decoration:none;">Deutsche Bank Trust Company America</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal;
margin-left:7.2pt; text-decoration:none;">    Natalya Zelensky</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal;
margin-left:7.2pt; text-decoration:none;">(Auction Preferred Stock)</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal;
margin-left:7.2pt; text-decoration:none;">Treasurer</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:9.0pt;
font-family:Cambria; text-align:left; color:#141414; text-indent:-7.2pt; font-weight:bold; margin-left:7.2pt;
text-decoration:none;">Stock Exchange Listing</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal;
margin-left:7.2pt; text-decoration:none;">    James Windels</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal;
margin-left:7.2pt; text-decoration:none;">NYSE Symbol: DSM</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal;
margin-left:7.2pt; text-decoration:none;">Vice Presidents</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt;
font-family:Cambria; text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal; margin-left:7.2pt;
font-style:normal;"><font style="font-size:9.0pt; font-family:Cambria; font-style:normal; color:#141414;
font-weight:bold; text-decoration:none;">Initial SEC Effective Date</font></p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal;
margin-left:7.2pt; text-decoration:none;">    Daniel Goldstein</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal;
margin-left:7.2pt; text-decoration:none;">11/22/89</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal;
margin-left:7.2pt; text-decoration:none;">     Joseph Martella</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"
>&nbsp;</td></tr><tr><td style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt;
font-family:Cambria; text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal; margin-left:7.2pt;
text-decoration:none;">Assistant Treasurers</p></td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"
>&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td
style="vertical-align:bottom; background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria;
text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal; margin-left:7.2pt; text-decoration:none;">
   Gavin C. Reilly</p></td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"
>&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom;
background-color:#D9D9D9;"><p style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414;
text-indent:-7.2pt; font-weight:normal; margin-left:7.2pt; text-decoration:none;">    Robert Salviolo</p></td><td
style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td></tr><tr><td style="vertical-align:bottom; background-color:#D9D9D9;"><p
style="font-size:8.0pt; font-family:Cambria; text-align:left; color:#141414; text-indent:-7.2pt; font-weight:normal;
margin-left:7.2pt; text-decoration:none;">    Robert Svagna</p></td><td style="vertical-align:bottom;
background-color:#D9D9D9; font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9;
font-size:1pt;" >&nbsp;</td><td style="vertical-align:bottom; background-color:#D9D9D9; font-size:1pt;"
>&nbsp;</td></tr><tr><td colspan="4" style=" vertical-align:bottom;"><p style="font-size:8.0pt; font-family:Serif;
text-align:left; font-weight:normal; text-decoration:none; font-style:italic;">The fund&#8217;s net asset
value per share appears in the following publications: Barron&#8217;s, Closed-End Bond Funds section under
the heading &#8220;Municipal Bond Funds&#8221; every Monday; and The Wall Street Journal, Mutual Funds section
under the heading &#8220;Closed-End Funds&#8221; every Monday.</p></td></tr><tr><td colspan="4" style=" vertical-align:bottom;"><p
style="font-size:8.0pt; font-family:Serif; text-align:left; font-weight:normal; text-decoration:none;
font-style:italic;">Notice is hereby given in accordance with Section 23(c) of the Act that the fund
may purchase shares of its Common Stock in the open market when it can do so at prices below the then
current net asset value per share.</p></td></tr></table>
<!-- PAGEBREAK_START -->
<p style="font-size:8.0pt; font-family:Arial; text-align:center; font-weight:bold; text-decoration:none;">41</p>

<!-- Field: Rule-Page --><div style="margin: 3pt auto; width: 25%"><div style="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</div></div><!-- Field: /Rule-Page -->
<p style="page-break-before:always;"></p>

<div style="border-bottom:0.5pt; border-bottom-style:solid; border-bottom-color:#000000; padding:0pt
0pt 1pt 0pt;"><div style="font-size:36.0pt; font-family:Arial; text-align:left; font-weight:normal;"><font
style="font-size:36.0pt; font-family:Arial; font-style:normal; font-weight:normal; text-decoration:none;">For
More Information</font></div></div>
<!-- PAGEBREAK_END -->
<p style="font-size:10.0pt; font-family:Arial; text-align:left; font-weight:bold; font-style:normal;"><font
style="font-size:10.0pt; font-family:Arial; font-style:normal; font-weight:bold; text-decoration:none;">BNY
Mellon Strategic Municipal Bond Fund, Inc.</font></p><p style="margin-top: 0pt; font: normal 10pt Serif; text-align: left; margin-bottom: 0pt"><font style="font-size:10.0pt; font-family:Serif; font-style:normal;
font-weight:normal; text-decoration:none;">240 Greenwich Street</font></p><p style="margin-top: 0pt; font: normal 10pt Serif; text-decoration: none; text-align: left; margin-bottom: 0pt">New
York, NY 10286</p><p style="font-size:10.0pt; font-family:Arial; text-align:left; font-weight:bold; text-decoration:none;">Adviser
and Administrator</p><p style="margin-top: 0pt; font: normal 10pt Serif; text-decoration: none; text-align: left; margin-bottom: 0pt">BNY Mellon Investment Adviser, Inc.</p><p style="margin-top: 0pt; font: normal 10pt Serif; text-decoration: none; text-align: left; margin-bottom: 0pt">240
Greenwich Street</p><p style="margin-top: 0pt; font: normal 10pt Serif; text-decoration: none; text-align: left; margin-bottom: 0pt">New York, NY 10286</p><p style="font-size:10.0pt; font-family:Arial;
text-align:left; font-weight:bold; text-decoration:none;">Sub-Adviser</p><p style="margin-top: 0pt; font: normal 10pt Serif; text-decoration: none; text-align: left; margin-bottom: 0pt">Insight
North America LLC </p><p style="margin-top: 0pt; font: normal 10pt Serif; text-align: left; margin-bottom: 0pt"><font style="font-size:10.0pt; font-family:Serif; font-style:normal; font-weight:normal;
text-decoration:none;">200 Park Avenue, 7</font><font style="font-size:10.0pt; font-family:Serif; font-style:normal;
font-weight:normal; text-decoration:none;"><sup>th</sup></font><font style="font-size:10.0pt; font-family:Serif;
font-style:normal; font-weight:normal; text-decoration:none;"> Floor</font></p><p style="margin-top: 0pt; font: normal 1pt Serif; text-align: left; margin-bottom: 0pt"><font style="font-size:10.0pt;
font-family:Serif; font-style:normal; font-weight:normal; text-decoration:none;">New York, NY 10166</font></p><p
style="font-size:10.0pt; font-family:Arial; text-align:left; font-weight:bold; text-decoration:none;">Custodian</p><p style="margin-top: 0pt; font: normal 10pt Serif; text-decoration: none; text-align: left; margin-bottom: 0pt">The
Bank of New York Mellon</p><p style="margin-top: 0pt; font: normal 10pt Serif; text-decoration: none; text-align: left; margin-bottom: 0pt">240 Greenwich Street</p><p style="margin-top: 0pt; font: normal 10pt Serif; text-decoration: none; text-align: left; margin-bottom: 0pt">New York, NY 10286</p><p
style="font-size:10.0pt; font-family:Arial; text-align:left; font-weight:bold; font-style:normal;"><font
style="font-size:10.0pt; font-family:Arial; font-style:normal; font-weight:bold; text-decoration:none;">Transfer
Agent &amp;</font><br><font style="font-size:10.0pt; font-family:Arial; font-style:normal; font-weight:bold;
text-decoration:none;">Registrar (Common Stock)</font></p><p style="margin-top: 0pt; font: normal 10pt Serif; text-decoration: none; text-align: left; margin-bottom: 0pt">Computershare Inc.</p><p style="margin-top: 0pt; font: normal 10pt Serif; text-decoration: none; text-align: left; margin-bottom: 0pt">480
Washington Boulevard</p><p style="margin-top: 0pt; font: normal 10pt Serif; text-decoration: none; text-align: left; margin-bottom: 0pt">Jersey City, NJ 07310</p><p style="font-size:10.0pt; font-family:Arial;
text-align:left; font-weight:bold; text-decoration:none;">Dividend Disbursing Agent (Common Stock)</p><p style="margin-top: 0pt; font: normal 10pt Serif; text-decoration: none; text-align: left; margin-bottom: 0pt">Computershare
Inc.</p><p style="margin-top: 0pt; font: normal 10pt Serif; text-decoration: none; text-align: left; margin-bottom: 0pt">P.O. Box 30170</p><p style="margin-top: 0pt; font: normal 10pt Serif; text-decoration: none; text-align: left; margin-bottom: 0pt">College Station, TX 77842</p><table cellspacing="0"
style="border-collapse:collapse" width="100%" cellpadding="2" style="clear:both"><tr style="font-size:1pt;"><td
style="width:20%">&nbsp;</td><td style="width:80%">&nbsp;</td></tr><tr><td style="vertical-align:top;
border-bottom:0.5pt; border-bottom-style:solid; border-bottom-color:#000000; border-top:0.5pt; border-top-style:solid;
border-top-color:#000000; font-size:1pt;"><p style="font-size:10.0pt; font-family:Serif; font-style:normal;
text-align:left; font-weight:bold; text-decoration:none;">Ticker Symbol:</p></td><td style="vertical-align:bottom;
border-bottom:0.5pt; border-bottom-style:solid; border-bottom-color:#000000; border-top:0.5pt; border-top-style:solid;
border-top-color:#000000;"><p style="font-size:10.0pt; font-family:Serif; font-style:normal; text-align:left;
font-weight:normal; text-decoration:none;">DSM</p></td></tr></table><p style="font-size:8.5pt; font-family:Serif;
text-align:left; font-weight:normal; font-style:normal;"><font style="font-size:10.0pt; font-family:Serif;
font-style:normal; font-weight:normal; text-decoration:none;">For more information about the fund, visit
https://im.bnymellon.com/us/en/products/closed-end-funds.jsp. Here you will find the fund&#8217;s most recently
available quarterly fact sheets and other information about the fund. The information posted on the fund&#8217;s
website is subject to change without notice. </font></p><p style="font-size:10.0pt; font-family:Serif;
text-align:left; font-weight:normal; font-style:normal;"><font style="font-size:10.0pt; font-family:Serif;
font-style:normal; font-weight:normal; text-decoration:none;">The fund files its complete schedule of
portfolio holdings with the SEC for the first and third quarters of each fiscal year on Form N-PORT.
The fund&#8217;s Forms N-PORT are available on the SEC&#8217;s website at </font><font style="font-size:10.0pt;
font-family:Serif; font-style:normal; color:#0000FF; font-weight:normal; text-decoration:underline;">www.sec.gov</font><font
style="font-size:10.0pt; font-family:Serif; font-style:normal; font-weight:normal; text-decoration:none;">.</font></p><p
style="font-size:10.0pt; font-family:Serif; text-align:left; font-weight:normal; font-style:normal;"><font
style="font-size:10.0pt; font-family:Serif; font-style:normal; font-weight:normal; text-decoration:none;">A
description of the policies and procedures that the fund uses to determine how to vote proxies relating
to portfolio securities and information regarding how the fund voted these proxies for the most recent
12-month period ended June 30 is available at www.im.bnymellon.com</font><font style="font-size:10.0pt;
font-family:Serif; font-style:normal; color:#0000FF; font-weight:normal; text-decoration:underline;">
</font><font style="font-size:10.0pt; font-family:Serif; font-style:normal; font-weight:normal; text-decoration:none;">and
on the SEC&#8217;s website at www.sec.gov and without charge, upon request, by calling 1-800-373-9387.</font></p><table
cellspacing="0" style="border-collapse:collapse" width="100%" cellpadding="2" style="clear:both"><tr
style="font-size:1pt;"><td style="width:50%">&nbsp;</td><td style="width:50%">&nbsp;</td></tr><tr><td
style="vertical-align:bottom; font-size:1pt;"><p style="font-size:8.5pt; font-family:Serif; text-align:left;
font-weight:normal; font-style:normal;"><br><font style="font-size:8.5pt; font-family:Serif; font-style:normal;
font-weight:normal; text-decoration:none;">0852SA0523</font></p></td><td style="vertical-align:bottom;
font-size:1pt;"><p style="font-size:8.5pt; font-family:Serif; text-align:right; font-weight:normal; font-style:normal;"><img src="img_73713338b1f74.jpg"></p></td></tr></table>
<!-- PAGEBREAK_START -->
<p style="font-size:1.0pt; font-family:Arial; text-align:left; font-weight:normal; text-decoration:none;">
</p>

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<!-- Field: /Include-Text -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in"><B>Item 2.</B></TD><TD><B>Code of Ethics.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.75in">Not applicable.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in"><B>Item 3.</B></TD><TD><B>Audit Committee Financial Expert.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.75in">Not applicable.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in"><B>Item 4.</B></TD><TD><B>Principal Accountant Fees and Services.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.75in">Not applicable.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in"><B>Item 5.</B></TD><TD><B>Audit Committee of Listed Registrants.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.75in">Not applicable.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in"><B>Item 6.</B></TD><TD><B>Investments.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">(a) <B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B>Not applicable.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in"><B>Item 7.</B></TD><TD><B>Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.75in">Not applicable.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in"><B>Item 8.</B></TD><TD><B>Portfolio Managers of Closed-End Management Investment Companies.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.75in">Not applicable.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in"><B>Item 9.</B></TD><TD><B>Purchases of Equity Securities by Closed-End Management Investment Companies and Affiliated Purchasers.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.75in">Not applicable.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in"><B>Item 10.</B></TD><TD><B>Submission of Matters to a Vote of Security Holders.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.75in">There have been no material
changes to the procedures applicable to Item 10.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in"><B>Item 11.</B></TD><TD><B>Controls and Procedures.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Registrant's principal executive and principal financial officers have concluded, based on their evaluation of the Registrant's disclosure
controls and procedures as of a date within 90 days of the filing date of this report, that the Registrant's disclosure controls and procedures
are reasonably designed to ensure that information required to be disclosed by the Registrant on Form N-CSR is recorded, processed, summarized
and reported within the required time periods and that information required to be disclosed by the Registrant in the reports that it files
or submits on Form N-CSR is accumulated and communicated to the Registrant's management, including its principal executive and principal
financial officers, as appropriate to allow timely decisions regarding required disclosure.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;There
were no changes to the Registrant's internal control over financial reporting that occurred during the period covered by this report that
have materially affected, or are reasonably likely to materially affect, the Registrant's internal control over financial reporting.</P>


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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in"><B>Item 12.</B></TD><TD><B>Disclosure of Securities Lending Activities for Closed-End Management Investment Companies.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-indent: 0.25in">Not applicable.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in"><B>Item 13.</B></TD><TD><B>Exhibits.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">(a)(1)&#9;Not applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">(a)(2)&#9;<A HREF="exhibit302-852.htm" STYLE="-sec-extract: exhibit">Certifications of principal executive and principal financial officers as required by Rule 30a-2(a) under the Investment Company Act of 1940</A>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">(a)(3)&#9;Not applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<A HREF="exhibit906-852.htm" STYLE="-sec-extract: exhibit">Certification of principal executive and principal financial officers as required by Rule 30a-2(b) under the Investment Company Act of 1940</A>.</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 24pt; text-align: center">SIGNATURES<BR>
<BR>
</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Pursuant to the requirements of the Securities
Exchange Act of 1934 and the Investment Company Act of 1940, the Registrant has duly caused this Report to be signed on its behalf by
the undersigned, thereunto duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">BNY Mellon Strategic Municipal Bond Fund, Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">By:&#9;<U>/s/ David J. DiPetrillo</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;David J. DiPetrillo</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;President (Principal Executive Officer)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Date:&#9;July 18, 2023</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Pursuant to the requirements of the Securities Exchange
Act of 1934 and the Investment Company Act of 1940, this Report has been signed below by the following persons on behalf of the Registrant
and in the capacities and on the dates indicated.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">By:&#9;<U>/s/ David J. DiPetrillo</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;David J. DiPetrillo</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;President (Principal Executive Officer)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Date:&#9;July 18, 2023</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">By:&#9;<U>/s/ James Windels</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;James Windels</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Treasurer (Principal Financial Officer)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Date:&#9;July 18, 2023</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><B>&nbsp;</B></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><B>EXHIBIT INDEX</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify">(a)(2)&#9;Certifications of principal
executive and principal financial officers as required by Rule 30a-2(a) under the Investment Company Act of 1940. (EX-99.CERT)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Certification
of principal executive and principal financial officers as required by Rule 30a-2(b) under the Investment Company Act of 1940. (EX-99.906CERT)</P>


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<DOCUMENT>
<TYPE>EX-99.CERT
<SEQUENCE>2
<FILENAME>exhibit302-852.htm
<DESCRIPTION>CERTIFICATION REQUIRED BY RULE 30A-2
<TEXT>
<HTML>
<HEAD>
<TITLE></TITLE>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: right">[EX-99.CERT]&#8212;Exhibit (a)(2)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SECTION 302 CERTIFICATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in">I, David J. DiPetrillo, certify that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in">1. I have reviewed this report on Form N-CSR of
BNY Mellon Strategic Municipal Bond Fund, Inc.;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">2. Based on my knowledge,
this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements
made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">3. Based on my knowledge,
the financial statements, and other financial information included in this report, fairly present in all material respects the financial
condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement
of cash flows) of the registrant as of, and for, the periods presented in this report;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">4. The registrant's other
certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c)
under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment
Company Act of 1940) for the registrant and have:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 13.7pt; text-align: justify; text-indent: 0in">(a) Designed such
disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure
that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those
entities, particularly during the period in which this report is being prepared;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 13.7pt; text-align: justify; text-indent: 0in">(b) Designed such
internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision,
to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external
purposes in accordance with generally accepted accounting principles;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 13.7pt; text-align: justify; text-indent: 0in">(c) Evaluated the
effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness
of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation;
and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 13.7pt; text-align: justify; text-indent: 0in">(d) Disclosed in this
report any change in the registrant's internal control over financial reporting that occurred during the period covered by this report
that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting;
and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">5. The registrant's other
certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors
(or persons performing the equivalent functions):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 13.7pt; text-align: justify; text-indent: 0in">(a) All significant
deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely
to adversely affect the registrant's ability to record, process, summarize, and report financial information; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt 13.7pt; text-align: justify; text-indent: 0in">(b) Any fraud, whether
or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial
reporting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 3in">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>/s/ David
J. DiPetrillo</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 3.5in">David J. DiPetrillo</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 3.5in">President (Principal Executive Officer)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2.5in; text-indent: 0.5in">Date:&#9;&#8239;&#8239;&#8239;&#8239;&#8239;July 18, 2023<BR STYLE="clear: both">
</P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 2.5in"><B>SECTION 302 CERTIFICATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in">I, James Windels, certify that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in">1. I have reviewed this report on Form N-CSR of
BNY Mellon Strategic Municipal Bond Fund, Inc.;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">2. Based on my knowledge,
this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements
made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">3. Based on my knowledge,
the financial statements, and other financial information included in this report, fairly present in all material respects the financial
condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement
of cash flows) of the registrant as of, and for, the periods presented in this report;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">4. The registrant's other
certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c)
under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment
Company Act of 1940) for the registrant and have:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 13.7pt; text-align: justify; text-indent: 0in">(a) Designed such
disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure
that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those
entities, particularly during the period in which this report is being prepared;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 13.7pt; text-align: justify; text-indent: 0in">(b) Designed such
internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision,
to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external
purposes in accordance with generally accepted accounting principles;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 13.7pt; text-align: justify; text-indent: 0in">(c) Evaluated the
effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness
of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation;
and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 13.7pt; text-align: justify; text-indent: 0in">(d) Disclosed in this
report any change in the registrant's internal control over financial reporting that occurred during the period covered by this report
that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting;
and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">5. The registrant's other
certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors
(or persons performing the equivalent functions):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 13.7pt; text-align: justify; text-indent: 0in">(a) All significant
deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely
to adversely affect the registrant's ability to record, process, summarize, and report financial information; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 13.7pt; text-align: justify; text-indent: 0in">(b) Any fraud, whether
or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial
reporting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 3in">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>/s/ James
Windels</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 3.5in">James Windels</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 3.5in">Treasurer (Principal Financial Officer)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 3in">Date:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;July 18,
2023</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right">&nbsp;</P>


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<DOCUMENT>
<TYPE>EX-99.906 CERT
<SEQUENCE>3
<FILENAME>exhibit906-852.htm
<DESCRIPTION>CERTIFICATION REQUIRED BY SECTION 906
<TEXT>
<HTML>
<HEAD>
<TITLE></TITLE>
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<BODY>


<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: right">[EX-99.906CERT]</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: right">Exhibit (b)</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0 0 24pt; text-align: center">SECTION 906 CERTIFICATIONS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">In connection with this report
on Form N-CSR for the Registrant as furnished to the Securities and Exchange Commission on the date hereof (the &quot;Report&quot;), the
undersigned hereby certify, pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">(1)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as applicable; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">(2)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the
Registrant.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 3in">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>/s/ David
J. DiPetrillo</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 3.5in">David J. DiPetrillo</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 3.5in">President (Principal Executive Officer)<BR>
<BR>
</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 3in">Date:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;July 18,
2023</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 3in">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>/s/ James
Windels</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 3.5in">James Windels</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 3.5in">Treasurer (Principal Financial Officer)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 3in">Date:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;July 18,
2023</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><I>This certificate is furnished pursuant to the requirements of Form N-CSR
and shall not be deemed &quot;filed&quot; for purposes of Section 18 of the Securities Exchange Act of 1934, or otherwise subject to the
liability of that section, and shall not be deemed to be incorporated by reference into any filing under the Securities Act of 1933 or
the Securities Exchange Act of 1934.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<DOCUMENT>
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<SEQUENCE>6
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
